arrow_back Civic Audit
Share share

Equal Credit for LGBTQI Businesses: New Data Collection Rules

This act aims to ensure equal credit opportunities for LGBTQI-owned businesses. It mandates the collection of small business loan data, including information on the sexual orientation, gender identity, and intersex status of owners. This will help monitor and address potential discrimination in access to financing for these businesses.
Key points
Banks and financial institutions will be required to collect data on whether small businesses applying for loans are LGBTQI-owned.
The act defines an LGBTQI-owned business as one where over 50% of ownership or control is held by individuals identifying as lesbian, gay, bisexual, transgender, queer, or intersex.
The goal is to better enforce equal credit opportunity laws and identify any barriers to financing for these businesses.
article Official text account_balance Process page notifications_active Track this Bill
gavel
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens (explained here). Start recording it now.
Additional Information
Print number: 118_HR_6652
Sponsor: Rep. Torres, Ritchie [D-NY-15]
Process start date: 2023-12-06
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

LGBTQI 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 118_HR_6652.

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 2023-12-06.

What are the main provisions?

Key points include:

  • Banks and financial institutions will be required to collect data on whether small businesses applying for loans are LGBTQI-owned.
  • The act defines an LGBTQI-owned business as one where over 50% of ownership or control is held by individuals identifying as lesbian, gay, bisexual, transgender, queer, or intersex.
  • The goal is to better enforce equal credit opportunity laws and identify any barriers to financing for these businesses.
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 2025-12-25.

What is the impact of this bill?

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.

CATEGORIES

Economy Courts and Law