118th Congress Commerce
H.R. 3604: Expanding Access to Affordable Credit for Small Businesses Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill establishes rules related to the authorization of lending institutions (including banks, small business lending companies, non-federally regulated lenders, and non-depository lending institutions) to make loans under the 7(a) Program of the Small Business Administration (SBA). Under the 7(a) Program, the SBA provides business loans and loan guaranties to small business borrowers unable to obtain financing elsewhere.
Specifically, the SBA must ensure that these lending institutions and other entities (1) provide an independent audit that examines adherence to all applicable federal laws and regulations regarding anti-money laundering, counterterrorist financing, sanctions, and financial crimes; and (2) implement a compliance program that is designed to conform with relevant anti-money laundering laws and regulations.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Jason Crow D-COOriginal
Who scored on this bill
- 1Byron Donalds SponsorDrew cross-party cosponsors, introduced2 events+6
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Other bills by Byron Donalds
History
- Introduced in the House by Byron Donalds.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Small Business.