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H.R. 1137: Small Business Credit Card Act of 2011

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H.R. 1137: Small Business Credit Card Act of 2011

112th Congress · introduced 2011-03-16 · Finance and Financial Sector · Latest: Referred to the Subcommittee on Financial Institutions and Consumer Credit.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2011-03-16 · official record
  2. Who proposed it: Rep. Lowey, Nita M. [D-NY-18] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the Subcommittee on Financial Institutions and Consumer Credit. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Small Business Credit Card Act of 2011

Plain summary

Small Business Credit Card Act of 2011 - Amends the Truth in Lending Act to cover any qualified small business as a consumer with respect to a credit card account under an open end credit plan (thereby extending credit card protections under such Act to small businesses). Defines "qualified small business" under the Act as any business concern having 50 or fewer employees, whether or not: (1) the credit card account is in the name of an individual or a business entity, and (2) any credit transaction involving such account is for business or personal purposes. Permits a qualified small business to elect to opt out of coverage by the Act. Exempts from coverage by the Act any credit transaction in which the total amount financed exceeds $50,000 (currently $25,000). Requires certain creditor disclosures before opening any account under an open end consumer credit plan for a qualified small business. Prohibits a creditor from: (1) discriminating against any business concern having 50 or fewer employees in connection with any credit card account under an open end credit plan; or (2) requiring any qualified small business to make an opt-out election as a condition for opening a credit card account, or for providing more advantageous terms for such an account.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Small Business Credit Card Act of 2011

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Lowey, Nita M. [D-NY-18] · 13 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

James P. McGovern (D-MA), Janice D. Schakowsky (D-IL), Eleanor Holmes Norton (D-DC), Jerrold Nadler (D-NY), Chellie Pingree (D-ME)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong112-hr1137 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112