On the recordNovember 8, 2023
Mr. Chairman, I rise in opposition to this amendment which would hinder efforts to promote transparency and accountability in small business lending and create hurdles for lenders and community organizations working to help women-owned businesses and minority-owned businesses access capital. The CFPB's rulemaking would provide small business owners, lenders, and the public with critical information about the $1.7 trillion small business financing market. This amendment would harm all those who stand to benefit from this expanded transparency and accountability. Small businesses are the engines of our American economy. Congress should not take action such as this amendment to hurt their ability to prosper. Mr. Chairman, I strongly oppose this amendment, and I urge a ``no'' vote. I reserve the balance of my time.
