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Increased Transparency in Small Business Loans

New regulations enhance oversight of agents assisting with small business loans. This aims to better understand how these agents operate and if their services benefit entrepreneurs. As a result, citizens running small businesses can expect greater protection and transparency when applying for financial support.
Key points
Requirement for annual reports on agents assisting with small business loans.
Reports will include data on fraudulent loans involving agents and fees for their services.
Analysis of risks associated with agents and the impact of their services on loan interest rates.
article Official text account_balance Process page
VOTING RESULTS
2021-11-02
98%
For 411
Against 9
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_4531
Sponsor: Rep. Meuser, Daniel [R-PA-9]
Process start date: 2021-07-19
Voting date: 2021-11-02
Meeting no: 1
Voting no: 352
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

7(a) Loan Agent Oversight Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4531.

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 2021-07-19.

What are the main provisions?

Key points include:

  • Requirement for annual reports on agents assisting with small business loans.
  • Reports will include data on fraudulent loans involving agents and fees for their services.
  • Analysis of risks associated with agents and the impact of their services on loan interest rates.
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. Meuser, Daniel [R-PA-9].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 411 - 9 (Roll no. 352). (text: CR H6092)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy