Federal Ban on Confessions of Judgment Would Help Small Businesses

“Confessions of judgment have devastated countless entrepreneurs that simply needed funds to start or grow their businesses,” said Small Business Majority Founder & CEO John Arensmeyer. “In some cases, confessions of judgment cost faultless borrowers more than their businesses–they also lost their entire life savings. This predatory practice must end now, and we hope Congress moves quickly to ban confessions of judgment.”

Publication: 
My Social Good News
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True
Topic New: 
Access to Capital
Predatory Lending