Expressing the sense of the House of Representatives that small business owners seeking financing have fundamental rights, including transparent pricing and terms, competitive products, responsible underwriting, fair treatment from financing providers, brokers, and lead generators, inclusive credit access, and fair collection practices.
Sponsored By: Representative Simon, Lateefah [D-CA-12]
Introduced
Summary
Transparent, fair, and responsible financing for small businesses. This resolution would set a non‑binding list of rights for small business borrowers, from clear written pricing and responsible underwriting to fair communications and collection practices, and it urges lawmakers to use those rights as a framework for future laws and rules.
Show full summary
- Small business owners would be recognized as having a right to clear, written pricing and terms, access to competitive products, and underwriting that assesses the business's ability to repay. It would also call for honest disclosures, equal treatment under the Equal Credit Opportunity Act, protections under the Fair Debt Collection Practices Act, and limits on pre‑dispute confessions of judgment.
- Congress and regulators would be urged to adopt these principles when crafting legislation and rules to protect and expand Main Street businesses. The resolution notes there are more than 33.2 million small businesses, which account for 99 percent of U.S. firms.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & CoSponsors
Sponsor
Simon, Lateefah [D-CA-12]
CA • D
Cosponsors
Rep. Velázquez, Nydia M. [D-NY-7]
NY • D
Sponsored 5/7/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov