HR7401Reported by Committee
Small Business Lending Fraud Prevention Act
Introduced
In Committee
3
Passed One Chamber4
Passed Both5
Signed into Law119th
Congress
2026-02-05
Introduced
1
Cosponsors
HR
ⓘType
Sponsor
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 →
Committee Activity
Currently in
- House Committee on Small BusinessReported By · 2026-02-20
Previously
- Small Business CommitteeReported By · 2026-02-20
- Small Business CommitteeMarkup By · 2026-02-11
- House Committee on Small BusinessMarkup By · 2026-02-11
- House Committee on Small BusinessReferred To · 2026-02-05
- Small Business CommitteeReferred To · 2026-02-05
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
Full bill text is not yet cached locally.
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