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Waters Slams Republican Efforts to Undermine Equal Credit Opportunities to LGBTQ Businesses

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement on the Republican efforts that prevented the passage of the LGBTQ Business Equal Credit Enforcement and Investment Act (H.R. 1443), a bill by Financial Services Committee Member Representative Ritchie Torres (D-NY) that would provide transparency and promote fair lending for businesses owned by lesbian, gay, bisexual, transgender, and queer (LGBTQ) individuals through data collection under the Equal Credit Opportunity Act.

“I am disappointed that H.R. 1443, the LGBTQ Business Equal Credit Enforcement and Investment Act, failed to pass the House under suspension. This bill led by Representative Ritchie Torres of New York passed out of our Committee on a voice vote. The bill would have shined a light on lending practices regarding LGBTQ-owned businesses, many of whom are discriminated against when they apply for credit. It is a shame that during Pride Month, Republican Members chose to vote against this bill and undermine equal credit opportunities for the LGBTQ community, which includes some of their colleagues in Congress. This is not the end, however, because I do not give up. We will keep fighting for the LGBTQ community, for communities of color, for small business owners, and for working families. We will pass this bill through the House.”

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