HR7401Reported by Committee

Small Business Lending Fraud Prevention Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-02-05
Introduced
1
Cosponsors
HR
ⓘ
Type

Sponsor

Daniel Meuser
Daniel Meuser
Republican · PA · Representative
Votes with party: 98.1% (523 recorded votes)

Full profile: /officials/M001204

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Placed on the Union Calendar, Calendar No. 426.

2026-02-20

Source: Congress.gov

Committee Activity

Currently in

Previously

Plain-English Summary

This bill would require lenders and financial institutions to implement stronger verification procedures and fraud detection systems when approving loans to small businesses, aiming to reduce fraudulent loan applications and protect both lenders and legitimate business owners. It would likely establish clearer standards for how banks verify applicant information and report suspicious activity, helping prevent criminals from obtaining loans through false claims about their business or finances. Small business owners, banks, and the Small Business Administration would all be affected by these new lending safeguards.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Commerce
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Open text viewRead on Congress.gov

Related legislation

Bills by the same sponsor or covering overlapping subjects.