Committee Advances Velazquez Bill to Stop Predatory Small Business Loans
November 14, 2019
November 14, 2019
WASHINGTON, Nov. 14 -- Rep. Nydia M. Velazquez, D-New York, issued the following news release:
The House Financial Services Committee has approved legislation authored by Rep. Nydia M. Velazquez (D-NY) that would end a predatory commercial lending practice. The bill, H.R. 3490, the "Small Business Lending Fairness Act," would amend the Truth in Lending Act (TILA) to restrict the use of predatory contract clauses called "confessions of judgment," which are often u . . .
The House Financial Services Committee has approved legislation authored by Rep. Nydia M. Velazquez (D-NY) that would end a predatory commercial lending practice. The bill, H.R. 3490, the "Small Business Lending Fairness Act," would amend the Truth in Lending Act (TILA) to restrict the use of predatory contract clauses called "confessions of judgment," which are often u . . .