Kuster Votes To Ensure Equal Treatment of LGBTQ Businesses by Financial Institutions
Washington, June 24, 2021
Washington, D.C. — Today, Rep. Annie Kuster (NH-02) voted in favor of the LGBTQ Business Equal Credit Enforcement and Investment Act, an amendment to the Equal Credit Opportunity Act that updates the current language monitoring and protecting minority and women-owned small businesses to include LGBTQ-owned businesses. The bill would expand the ability of LGBTQ-owned businesses to access capital and credit by directing financial institutions to collect data on credit applications and ensure equal access to credit as well as protection from credit discrimination.
“No one should be denied financial services because of who they are or who they love,” said Rep. Kuster. “The COVID-19 pandemic revealed existing disparities in economic support as some LGBTQ-owned businesses were shut out of PPP loans by private banks and lenders, and continue to suffer from a lack of access to financial institutions. This legislation will help ensure transparency from institutions and create incentives for the financial community to extend capital to LGBTQ-owned businesses. Equal rights must be protected in all sectors and I am proud to support this anti-discrimination legislation that will help businesses thrive.”
Rep. Kuster has been a longtime advocate for equal rights and the LGBTQ community. After supporting the historic bill in the 116th Congress, in February of this year, she once again helped advance the Equality Act in the House, legislation that ensures LGBTQ Americans receive the full protections of federal civil rights laws.