US SB3560 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on March 22 2020 - 25% progression, died in chamber
Action: 2020-05-12 - Committee on Banking, Housing, and Urban Affairs. Hearings held.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 22 2020 - 25% progression, died in chamber
Action: 2020-05-12 - Committee on Banking, Housing, and Urban Affairs. Hearings held.
Text: Latest bill text (Introduced) [PDF]
Summary
Applies certain military consumer credit protections to all consumers, tax-exempt charitable organizations, and small businesses for credit extended during the COVID-19 (i.e., coronavirus disease 2019) emergency period. Specifically, the bill caps the interest rate on an extension of consumer credit at 36%.
Title
Small Business and Consumer Emergency Credit Act
Sponsors
| Sen. Chris Van Hollen [D-MD] | Sen. Sherrod Brown [D-OH] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-05-12 | Senate | Committee on Banking, Housing, and Urban Affairs. Hearings held. |
| 2020-03-22 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Subjects
Cardiovascular and respiratory health
Civil actions and liability
Consumer credit
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
Interest, dividends, interest rates
Small business
Social work, volunteer service, charitable organizations
State and local government operations
Civil actions and liability
Consumer credit
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
Interest, dividends, interest rates
Small business
Social work, volunteer service, charitable organizations
State and local government operations
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/3560/all-info |
| Text | https://www.congress.gov/116/bills/s3560/BILLS-116s3560is.pdf |
