LGBTQI Business Equal Credit Enforcement and Investment Act
April 16, 2026
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Where This Stands
Currently in_committee. The next step in the legislative lifecycle is Floor Vote.
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →The Frame
If passed, this bill would require lenders to track and report lending data for LGBTQI-owned small businesses, similar to existing requirements for minority-owned and women-owned businesses, potentially impacting how federal agencies monitor equitable access to credit.
Potentially affected actors named in the source documents. Mention is not a position.
Small business owners
Business owners may be asked to provide demographic information regarding sexual orientation, gender identity, or intersex status when applying for loans.
Financial institutions
Lenders would be required to update their data collection processes to include LGBTQI-related metrics for small business loan applications.
Current stage: in_committee.
Floor Vote.
Summary
Key Facts
- The bill amends Section 704B of the Equal Credit Opportunity Act to include LGBTQI-owned businesses in mandatory small business loan data collection.
- Financial institutions would be required to collect data on sexual orientation, gender identity, and intersex status in addition to existing demographic categories.
- An 'LGBTQI-owned business' is defined as a business where more than 50% of ownership or control is held by individuals identifying as LGBTQI.
- An 'LGBTQI-owned business' is also defined as a business where more than 50% of net profit or loss accrues to individuals identifying as LGBTQI.
- The bill was introduced in the House of Representatives on December 6, 2023, by Representative Ritchie Torres and 36 co-sponsors.
Frequently Asked Questions
What does this bill change for small business owners?
How does the bill define an LGBTQI-owned business?
Why It Matters
If passed, this bill would require lenders to track and report lending data for LGBTQI-owned small businesses, similar to existing requirements for minority-owned and women-owned businesses, potentially impacting how federal agencies monitor equitable access to credit.
News Coverage
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Expansion of Demographic Data Collection
The bill represents a move to align LGBTQI-related data collection with existing minority-owned and women-owned business reporting standards.
Connected Entities
Analysis Score
0–100- Significance60How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
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