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Statement of Administration Policy: H.R. 1443 - LGBTQ Business Equal Credit Enforcement and Investment Act

June 22, 2021

STATEMENT OF ADMINISTRATION POLICY

(House Rules)
(Rep. Torres, D-NY, and 41 cosponsors)

The Administration supports House passage of H.R. 1443, the LGBTQ Business Equal Credit Enforcement and Investment Act. This legislation would amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQ-owned businesses.

Too often, businesses from underserved communities, including the LGBTQ community, struggle to access capital and credit. This bill recognizes these challenges and takes steps to increase transparency and accountability around lending to LGBTQ-owned small businesses.

The Administration strongly supports efforts to ensure greater equity in access to credit and opportunity for the LGBTQ community.

Joseph R. Biden, Statement of Administration Policy: H.R. 1443 - LGBTQ Business Equal Credit Enforcement and Investment Act Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/351269