118th Congress · SENATE BILLBILL

S. 3421 — LGBTQI Business Equal Credit Enforcement and Investment Act

“A bill to amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQI-owned businesses.”

Finance and financial sector

Introduced Dec 6, 2023

Last action Dec 6, 2023

Pipeline · Bill → Law

Step 1

Introduced

Dec 6, 2023

Step 2

Referred

Dec 6, 2023

Banking, Housing, and Urban Affairs

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill requires financial institutions to report certain credit application data to the Consumer Financial Protection Bureau for the purposes of enforcing fair lending laws. Specifically, financial institutions must report this data regarding lesbian-, gay-, bisexual-, transgender-, queer-, or intersex-owned businesses. Currently, this data is reported regarding women-owned, minority-owned, and small businesses.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Dec 6, 2023

Introduced in Senate

Dec 6, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.