# 116-hr-7889: Small Business Lending Disclosure and Broker Regulation Act of 2020

116-hr-7889, Small Business Lending Disclosure and Broker Regulation Act of 2020, is a 116th Congress bill sponsored by Rep. Velázquez, Nydia M. [D-NY-7] (D-NY); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7889
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7889
- Congress: 116
- Title: Small Business Lending Disclosure and Broker Regulation Act of 2020
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2020-07-30
- Sponsor: Rep. Velázquez, Nydia M. [D-NY-7] (D-NY)
- Cosponsors: 0
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Small Business Lending Disclosure and Broker Regulation Act of 2020 This bill applies specified commercial lending protections to small business lending and extends the Consumer Financial Protection Bureau's regulatory authority regarding consumer financial products and services to include small business financing. Among other requirements, lenders offering financial products to small businesses must disclose the terms of the financing upon extending an offer and are prohibited from charging certain additional fees on a refinanced or modified loan. Additionally, the bill establishes an Office of Broker Regulation within the bureau to regulate brokers of small business financing.

## Related bills

- 116-hr-8978: Community Driven Recovery for Puerto Rico Act
- 116-hr-8924: Our Homes, Our Votes Act
- 116-hr-8867: CATS Act of 2020
- 116-hr-8824: Federal Financing Bank Risk-Sharing Act of 2020
- 116-hr-8823: Banning Rubber Bullets Act of 2020
- 116-hr-8820: PASS Act

## Sources
- [116-hr-7889 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7889)

## Related
- [116-hr-8978: Community Driven Recovery for Puerto Rico Act](https://policyrisk.com/legislation/116-hr-8978)
- [116-hr-8924: Our Homes, Our Votes Act](https://policyrisk.com/legislation/116-hr-8924)
- [116-hr-8867: CATS Act of 2020](https://policyrisk.com/legislation/116-hr-8867)
- [116-hr-8824: Federal Financing Bank Risk-Sharing Act of 2020](https://policyrisk.com/legislation/116-hr-8824)
- [116-hr-8823: Banning Rubber Bullets Act of 2020](https://policyrisk.com/legislation/116-hr-8823)
- [116-hr-8820: PASS Act](https://policyrisk.com/legislation/116-hr-8820)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7889 (as of 2025-11-18).