US Congress House Bill 7796 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on July 27 2020 - 25% progression, died in committee
Action: 2020-07-27 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Places restrictions on the collection of consumer debts during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days after this period. Among other things, debt collectors may not during this period enforce a security interest through a repossession, seize assets, commence or continue an eviction, terminate utility service, or charge fees or apply a higher interest rate as a result of nonpayment. After this period, debt collectors must provide certain repayment options including extending the repayment period for debts. The bill also provides for forbearance programs established by creditors for consumers experiencing a financial hardship due to COVID-19. The Federal Reserve Board must establish a credit facility to make long-term, low-cost loans to these creditors for losses caused by any forbearance of payments.

Consumer Relief during COVID–19 Act

Rep. Joyce Beatty [D-OH]

Rep. Maxine Waters [D-CA]

Date	Chamber	Action
2020-07-27	House	Referred to the House Committee on Financial Services.
2020-07-27	House	Introduced in House

HB6800 (Related) 2020-07-23 - Committee on Small Business and Entrepreneurship. Hearings held.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/7796/all-info
Text	https://www.congress.gov/116/bills/hr7796/BILLS-116hr7796ih.pdf