,,ii  #aagth ,,congress  #ast ,session  
,s4 #bafb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #bb1     
#bjba,ms4 ,cortez ,masto 7for herself   
and ,ms4 ,warren7 introduced the        
following bill2 which was read twice and
 referred to the ,committee on ,small   
,business and ,entrepreneurship  ,a     
,,bill  ,to require the ,small ,business
 ,administration to publish loan default
 rates by franchise brand1 and for other
 purposes4  #a4 ,short title ,this ,act 
may be cited as the ,,sba ,franchise    
,loan ,default ,disclosure ,act4  #b4   
,publication of default rates by        
franchise brand  7a7 ,definitions ,in   
this section-- 7#a7 the terms           
,administration and ,administrator mean 
the ,small ,business ,administration and
 the ,administrator thereof1            
respectively2 and  7#b7 the term        
franchise has the meaning given the term
 in section #dcf4a of title #af1 ,code  
of ,federal ,regulations1 as in effect  
on ,july #a1 #bjjg4  7b7 ,publication of

 default rates ,the ,administrator shall
 publish and update on a quarterly basis
 loan default rates by franchise brand  
during the preceding #aj-year period on 
the website of the ,administration in a 
manner that is publicly accessible and  
linked to the ,franchise ,directory of  
the ,administration4