Bill · H.Res. 1267· House(119-HRES-1267)
Expressing the sense of the House of Representatives that small business owners seeking financing have fundamental rights, including transparent pricing and terms, competitive products, responsible underwriting, fair treatment from financing providers, brokers, and lead generators, inclusive credit access, and fair collection practices.
- Introduced
- 5/7/2026
- Last activity
- 5/7/2026 — Referred to the House Committee on Small Business.
- Sponsored by
- Lateefah Simon
- Cosponsors
- - 1 - 0
- Introduced
- In Committee
A House resolution is the House speaking for itself: stating a position, honouring someone, or setting its own rules. Adopting it is the whole process. Once the House agrees to it, it is officially the House's word; it is not a law, so the Senate and the President have no part in it.
What this bill would do
This resolution expresses the sense of the House of Representatives regarding the fundamental rights of small business owners seeking financing. It highlights the importance of small businesses in the economy and the challenges they face with irresponsible lending practices. The resolution asserts that borrowers deserve transparent pricing, competitive products, and responsible underwriting. It also advocates for fair treatment from brokers and lead generators, as well as inclusive credit access. Finally, it calls for fair collection practices and the protection of borrowers from certain legal agreements.
Yes· 3 of 12
Would business owners be better off under this?+8
The resolution establishes a framework of fundamental rights intended to protect small business owners from irresponsible lending and unfair collection practices.
Does this make it easier to run a small business?+8
The resolution advocates for several protections for small business owners, including transparent pricing, responsible underwriting, and fair collection practices.
Is this likely to create jobs?+5
The resolution suggests that protecting small business financing can help businesses that start, continue, or expand operations and create jobs.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Transparent Pricing and Terms: Borrowers have the right to receive the cost and terms of financing in a clear, complete, and easy-to-compare written form, which helps them make the best decisions for their business. (Whereas clause regarding the right to have cost and terms presented in writing).
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Prevention of Debt Cycles: The resolution states that financing products should not trap a business in an expensive cycle of reborrowing. (Whereas clause regarding the right to expect products will not trap a business in a cycle of reborrowing).
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Responsible Underwriting: Financing should be based on practices that assess the actual ability of a business to succeed and repay the loan. (Whereas clause regarding the right to expect financing based on underwriting practices that assess ability to succeed and repay).
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Honest Communication: Borrowers are entitled to honest, transparent, and impartial communications regarding loan options, fees, and conflicts of interest from providers, brokers, and lead generators. (Whereas clause regarding the right to honest, transparent, and impartial communications).
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Fair and Equal Treatment: Small business owners are entitled to fair and equal treatment when seeking loans, including protections guaranteed under the Equal Credit Opportunity Act. (Whereas clause regarding the right to fair and equal treatment).
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Respectful Debt Collection: Borrowers have the right to be treated fairly and respectfully during the collections process, with protections such as those guaranteed under the Fair Debt Collection Practices Act. (Whereas clause regarding the right to be treated fairly and respectfully throughout a collections process).
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Legal Protections: The resolution asserts the right to expect that providers do not use confessions of judgment or equivalent agreements where a borrower preemptively agrees to lose disputes. (Whereas clause regarding the right to expect providers do not use confessions of judgment).
Potential Negative Impacts for People
- No specific negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+8Good For African Americans+3Good For Asian Americans+3Good For Hispanic Americans+3Good For Native Americans+3Good For White Americans+3Good For Women+3
- Economy And Finance
- Improves Small Business Support+8Increases Job Creation+5Improves Economic Growth+4
- Governance And Ideology
- Improves Government Transparency+4
- Social Issues And Justice
- Improves Racial Equity+3
- 5/7/2026
- Submitted in House
- Referred to the House Committee on Small Business.
- 1 Cosponsor added.
Nydia VelázquezDemocrat · New York