US HB6423 | 2019-2020 | 116th Congress

US Congress House Bill 6423 (Prior Session Legislation)

Status

Spectrum: Partisan Bill (Democrat 4-0)
Status: Introduced on March 31 2020 - 25% progression, died in committee
Action: 2020-03-31 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Places restrictions on the collection of debt owed by a consumer, nonprofit organization, or small business during the COVID-19 (i.e., coronavirus disease 2019) emergency period and the following 120 days. Among other things, debt collectors may not during this period charge fees or apply a higher interest rate as a result of nonpayment, commence or continue litigation to collect a debt, enforce a security interest through a repossession or foreclosure, report past due debt to a credit reporting agency, seize assets, or terminate utility service. The bill also prohibits during this period a confession of judgment or similar agreement as a condition to a loan or extension of credit. (A confession of judgment is an agreement to a judgment of liability without notice and opportunity to be heard in court in the event of the default of a borrower.)

Title

To provide for a temporary debt collection moratorium during the COVID-19 emergency period, and for other purposes.

History

Date	Chamber	Action
2020-03-31	House	Referred to the House Committee on Financial Services.
2020-03-31	House	Introduced in House

Same As/Similar To

HB6379 (Related) 2020-03-23 - Referred to the Committee on Appropriations, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
HB6321 (Related) 2020-03-23 - Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Small Business, the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.