US HB6544 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on April 17 2020 - 25% progression, died in committee
Action: 2020-04-17 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 17 2020 - 25% progression, died in committee
Action: 2020-04-17 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Prohibits for one year efforts by a lender to collect on certain debts owed by a borrower affected by the COVID-19 (i.e., coronavirus disease 2019) pandemic. Specifically, lenders are prohibited from collection efforts against such a borrower with respect to (1) a loan with a nominal interest rate of 36% or more, and (2) a loan which the lender did not determine was affordable while allowing the borrower to meet basic living expenses and major financial obligations.
Title
Payday and Predatory Loans Moratorium Act of 2020
Sponsors
| Rep. Gregory Meeks [D-NY] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-04-17 | House | Referred to the House Committee on Financial Services. |
| 2020-04-17 | House | Introduced in House |
Subjects
Cardiovascular and respiratory health
Consumer credit
Debt collection
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
Interest, dividends, interest rates
Motor vehicles
Consumer credit
Debt collection
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
Interest, dividends, interest rates
Motor vehicles
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/6544/all-info |
| Text | https://www.congress.gov/116/bills/hr6544/BILLS-116hr6544ih.pdf |
