118th Congress · SENATE BILLBILL

S. 1371 — Small Business Credit Protection Act of 2023

“A bill to amend the Small Business Act to require that consumer reporting agencies and other credit reporting companies provide certain protections to small businesses, and for other purposes.”

Commerce

Introduced Apr 27, 2023

Last action Apr 27, 2023

Pipeline · Bill → Law

Step 1

Introduced

Apr 27, 2023

Step 2

Referred

Apr 27, 2023

Small Business and Entrepreneurship

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill establishes requirements related to breaches of data belonging to small businesses. Specifically, a consumer reporting agency must promptly report any breach of nonpublic small business data. In the event of a breach, a consumer reporting agency may not charge a small business for a credit report. Additionally, the Government Accountability Office must report on the economic harm to small businesses resulting from data breaches at consumer reporting agencies.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Apr 27, 2023

Introduced in Senate

Apr 27, 2023

Read twice and referred to the Committee on Small Business and Entrepreneurship.