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Equal Credit Opportunity for LGBTQ+ Businesses: Loan Data Collection.

This act aims to ensure that businesses owned by LGBTQ+ individuals have equal opportunities in accessing credit. Banks and other financial institutions will be required to collect data on loans granted to these businesses, which will help identify and eliminate potential inequalities. This means citizens running such businesses can expect greater transparency and fairness in the financing application process.
Key points
Requires collection of small business loan data for LGBTQ-owned businesses.
Defines an LGBTQ-owned business as one where over 50% ownership or control is held by individuals self-identifying as lesbian, gay, bisexual, transgender, or queer.
Aims to better enforce equal credit and investment opportunities.
article Official text account_balance Process page
VOTING RESULTS
2021-06-24
59%
For 252
Against 176
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_1443
Sponsor: Rep. Torres, Ritchie [D-NY-15]
Process start date: 2021-02-26
Voting date: 2021-06-24
Meeting no: 1
Voting no: 182
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

LGBTQ Business Equal Credit Enforcement and Investment Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1443.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-26.

What are the main provisions?

Key points include:

  • Requires collection of small business loan data for LGBTQ-owned businesses.
  • Defines an LGBTQ-owned business as one where over 50% ownership or control is held by individuals self-identifying as lesbian, gay, bisexual, transgender, or queer.
  • Aims to better enforce equal credit and investment opportunities.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Torres, Ritchie [D-NY-15].

What is the latest detailed status?

The latest detailed status is: On passage Passed by the Yeas and Nays: 252 - 176 (Roll no. 182). (text: CR H3098)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Courts and Law