Support Grows for Federal Small Business Truth in Lending Act
Updated: Sep 9, 2020
The Washington Post and Bloomberg News both published editorials urging Congress to pass the new federal bill based on New York’s Small Business Truth in Lending Act (S5470/A10118).
The editorial also links to the Responsible Business Lending Coalition’s published Small Business Borrowers’ Bill of Rights as the basis for laws that should be passed. The editorial begins:
The coronavirus pandemic has thrust millions of American small businesses into crisis mode, as they scramble for the cash they need to get through to more normal times. One way Congress can help: Protect them from predators looking to take their money and leave them bankrupt.