Summary: H.R.1443 — 117th Congress (2021-2022)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Reported to House (06/17/2021)

LGBTQ Business Equal Credit Enforcement and Investment Act

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-, or queer-owned businesses. Currently, this data is reported regarding women-owned, minority-owned, and small businesses.

The bill also expresses the sense of Congress that the term sex as used in the Equal Credit Opportunity Act includes an individual's sexual orientation and gender identity and that such information should be separately collected regarding the credit applications of principal business owners.