H.R. 1443 · 117TH CONGRESSIntroduced · Jul 12, 2021
LGBTQ Business Equal Credit Enforcement and Investment Act
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Step 1 of 6 · Introduced
On Motion to Suspend the Rules and Pass, as Amended
On Motion to Suspend the Rules and Pass, as Amended
On Passage
On Passage
On June 24, 2021, the House of Representatives passed H.R. 1443, the LGBTQ Business Equal Credit Enforcement and Investment Act, with a vote of 252–176. This bill amends the Equal Credit Opportunity Act to require financial institutions to collect and report data regarding credit applications made by LGBTQ-owned businesses, similar to existing requirements for women-owned and minority-owned businesses. The goal of the legislation is to increase transparency in lending practices and help identify potential barriers to credit for LGBTQ entrepreneurs. The vote followed a largely partisan split, though it gained some cross-party support. While all 219 voting Democrats supported the measure, the Republican caucus was divided, with 33 Republicans joining the majority to pass the bill and 176 Republicans voting against it. Having passed the House, the bill moved to the Senate for further consideration.