U.S. Senator Marco Rubio (R-FL) joined the Clay Travis and Buck Sexton Show to discuss the pro-Hamas college encampments, Democrats’ mixed Israel messaging, and more. See below for highlights and listen to the full interview here. On the politically motivated trials...
News
Latest News
ICYMI: Rubio: Earth-week Housing Rule Puts “Planet” Over People
Biden Is Making It Harder to Buy Homes — Just to Please Green Radicals and Wall Street U.S. Senator Marco Rubio (R-FL) May 12, 2024 New York Post …HUD is issuing a new “energy-saving” rule that will instead increase the cost of building homes for federally assisted...
Rubio-led Provisions Included in Senate FAA Reauthorization Bill
The Senate passed the Securing Growth and Robust Leadership in American Aviation Act (H.R. 3935), which reauthorizes the Federal Aviation Administration (FAA) until 2028. The bill includes several provisions led by U.S. Senator Marco Rubio (R-FL), including an...
Rubio, Rosen, and Colleagues to Biden: Oppose ICC Action Against Israel
The International Criminal Court (ICC) is seeking to politically target Israel for rightfully defending itself from terrorists seeking its destruction following the October 7, 2023 atrocities committed by Hamas. U.S. Senators Marco Rubio (R-FL), Jacky Rosen (D-NV),...
Next Week: Rubio Staff Hosts Mobile Office Hours
U.S. Senator Marco Rubio’s (R-FL) office will host in-person Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of Senator Rubio’s...
Rubio, Vance, Hawley Call on Biden to Block Sale of U.S. Steel
Allowing Japan-based Nippon Steel Company to acquire U.S. Steel raises serious economic and national security concerns. President Joe Biden claims to oppose the sale of this American company but has not taken action within his power to stop the deal. U.S. Senators...
Rubio, Brown Introduce Bill to Reinstate Small Businesses’ Right to Notice
Washington, D.C. – Today, U.S. Senators Marco Rubio (R-FL) and Sherrod Brown (D-OH) introduced (S.3717) the Small Business Fair Lending Act, legislation that seeks to protect small businesses by closing a loophole used by nefarious lenders, and allowing the ability for them to be heard in a court of law. The bill codifies the Federal Trade Commission’s (FTC) 1985 ban on confessions of judgement, and extends it to include small business borrowers. Confessions of judgment require a borrower to give up his or her rights in court before obtaining a loan, and allows the lender to seize the borrower’s assets, without warning, in order to satisfy the debt. Although many states have banned this practice for small business loans and for individuals, borrowers remain exposed due to the current FTC loophole. The Small Business Lending Fairness Act provides small businesses with the same protections consumers already have. Last month, Bloomberg published an in-depth investigative report on this unscrupulous lending tactic, which has allowed creditors to destroy the lives of tens of thousands of borrowers without notice or opportunity for defense.
“With this new bill, we are taking another step toward protecting America’s small businesses—the foundation of our economy—by preserving the right of a business to be heard in a court of law before a potential credit default,” Rubio said. “I remain committed to protecting our small businesses, and I hope my colleagues will join me in this effort by passing this bill.”
“When we let financial predators harm hardworking Americans through scams like confessions of judgment, we undermine the dignity of work that makes this country great,” said Brown. “This bipartisan bill ensures that consumers and small business owners benefit from protections that prevent predatory lenders from stripping away their hard earned money under cover of night.”
The Small Business Lending Fairness Act:
- Codifies the FTC’s 1985 ban on confessions of judgment in law in consumer loan contracts, and
- Expands the ban to provide these protections to business borrowers as well.
More information on the bill can be found here.