Washington, D.C. - Small Business Majority applauds the introduction of the “Small Business Financing Disclosure Act of 2023,” which would amend the federal Truth in Lending Act (TILA) to extend the same protections for consumers to America’s small businesses.
This bill, introduced by Senator Robert Menendez and Congresswoman Nydia Velázquez and cosponsored by Senators Sherrod Brown, Ben Cardin, Ron Wyden, and Congresswoman Maxine Waters, will support a high level of transparency on finance products that is necessary for small business growth.