What the bill does
LGBTQ Business Equal Credit Enforcement and Investment Act This bill requires financial institutions to report certain credit application data to the Consumer Financial Protection Bureau for the purposes of enforcing fair lending laws. Specifically, financial institutions must report this data regarding lesbian-, gay-, bisexual-, transgender-, or queer-owned businesses. Currently, this data is reported regarding women-owned, minority-owned, and small businesses.
Subjects: Banking and financial institutions regulation, Business investment and capital, Business records, Consumer credit, Credit and credit markets, Government information and archives, Sex, gender, sexual orientation discrimination, Small business