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S. 2162: SBA Franchise Loan Default Disclosure Act

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S. 2162: SBA Franchise Loan Default Disclosure Act

117th Congress · introduced 2021-06-22 · Commerce · Latest: Committee on Small Business and Entrepreneurship. Hearings held.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2021-06-22 · official record
  2. Who proposed it: Sen. Cortez Masto, Catherine [D-NV] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Committee on Small Business and Entrepreneurship. Hearings held. 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

SBA Franchise Loan Default Disclosure Act

Plain summary

SBA Franchise Loan Default Disclosure Act This bill requires the Small Business Administration to publish on its website and to regularly update the loan default rates by franchise brands during the preceding 10-year period.

Congressional Research Service summary (Introduced in Senate), 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

SBA Franchise Loan Default Disclosure Act

Source: Congressional Research Service summary (Introduced in Senate)

AI explanation – may be wrong, check the official text

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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: Sen. Cortez Masto, Catherine [D-NV] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Elizabeth Warren (D-MA)

Sponsor's campaign money: Sen. Cortez Masto, Catherine [D-NV] reported raising $2.6 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong117-s2162 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117