Small Business Majority submits letter of support on transparency before markup

In a letter submitted to Chairwoman of the House Committee on Financial Services, Maxine Waters, and Ranking Member Patrick McHenry, Founder and CEO John Arensmeyer urged members to markup H.R. 6054, the Small Business Lending Disclosure Act of 2021 in its current form and pass it out of committee immediately. The bill would protect entrepreneurs from predatory lenders that offer unfair terms and conditions. Additionally, the measure would extend safeguards already required in consumer lending, through the Truth in Lending Act, to small business borrowers.