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Collecting Data on Loans for LGBTQ+ Owned Businesses

This bill requires banks to collect information about small business loan applications from businesses owned by people who identify as LGBTQ+. This data will help understand how these businesses access credit.
Key points
Banks will be required to collect data on loan applications from businesses owned by people identifying as LGBTQ+.
This is similar to how data is collected for minority and women-owned businesses.
The law defines what an 'LGBTQ-owned business' means for data collection purposes.
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Status:
Expired
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Additional Information
LGBTQ Business Equal Credit Enforcement and Investment Act
Print number: HR 1659
Sponsor: Rep. Torres, Ritchie [D-NY-15]
Process start date: 2021-03-08
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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Summary & Status

Key Questions about Collecting Data on Loans for LGBTQ+ Owned Businesses

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 1659.

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 2021-03-08.

What are the main provisions?

Key points include:

  • Banks will be required to collect data on loan applications from businesses owned by people identifying as LGBTQ+.
  • This is similar to how data is collected for minority and women-owned businesses.
  • The law defines what an 'LGBTQ-owned business' means for data collection purposes.

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

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: Referred to the House Committee on Financial Services.

Is this summary verified?

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

Analysis and Potential Impact of HR 1659

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Economy