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H.R. 3490: Small Business Lending Fairness Act

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To amend the Truth in Lending Act to prohibit certain unfair credit practices, and for other purposes.

The bill’s titles are written by its sponsor.

Sponsor and status

Nydia Velázquez

Sponsor. Representative for New York's 7th congressional district. Democrat.

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Last Updated: Mar 19, 2020
Length: 6 pages
Introduced
Jun 25, 2019
116th Congress (2019–2021)
Status

Ordered Reported on Nov 14, 2019

The committees assigned to this bill sent it to the House or Senate as a whole for consideration on November 14, 2019.

Prognosis
3% chance of being enacted according to Skopos Labs (details)
Source

Position statements

What legislators are saying

Committee Advances Velazquez Bill to Stop Predatory Small Business Loans
    — Rep. Nydia Velázquez [D-NY7] (Sponsor) on Nov 14, 2019

Committee Advances Velzquez Bill to Stop Predatory Small Business Loans
    — Rep. Nydia Velázquez [D-NY7] (Sponsor) on Nov 14, 2019

More statements at ProPublica Represent...

What stakeholders are saying

Institute for Spending Reform SpendingTracker.org estimates new spending due to H.R. 3490 will be negligible.

History

Jun 25, 2019
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Sep 26, 2019
 
Considered by House Committee on Financial Services

A committee held a hearing or business meeting about the bill.

Nov 13, 2019
 
Considered by House Committee on Financial Services

A committee held a hearing or business meeting about the bill.

Nov 14, 2019
 
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Mar 19, 2020
 
Reported by House Committee on Financial Services

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

If this bill has further action, the following steps may occur next:
 
Passed House

 
Passed Senate

 
Signed by the President

H.R. 3490 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number H.R. 3490. This is the one from the 116th Congress.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 3490 — 116th Congress: Small Business Lending Fairness Act.” www.GovTrack.us. 2019. May 27, 2020 <https://www.govtrack.us/congress/bills/116/hr3490>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.