US HB6790 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on May 8 2020 - 25% progression, died in committee
Action: 2020-05-08 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 8 2020 - 25% progression, died in committee
Action: 2020-05-08 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Prohibits a creditor from enforcing a loan covenant that requires the accelerated repayment of a loan if the borrower receives a loan under certain COVID-19 (i.e., coronavirus disease 2019) economic aid programs. Additionally, a creditor is prohibited from enforcing any loan covenant beginning on the date of enactment of this bill and ending one year after the termination of the COVID-19 national emergency.
Title
Business Borrowers Protection Act
Sponsors
| Rep. Brad Sherman [D-CA] | Rep. Maxine Waters [D-CA] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-05-08 | House | Referred to the House Committee on Financial Services. |
| 2020-05-08 | House | Introduced in House |
Subjects
Administrative law and regulatory procedures
Banking and financial institutions regulation
Cardiovascular and respiratory health
Credit and credit markets
Department of the Treasury
Emergency medical services and trauma care
Finance and financial sector
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
Banking and financial institutions regulation
Cardiovascular and respiratory health
Credit and credit markets
Department of the Treasury
Emergency medical services and trauma care
Finance and financial sector
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/6790/all-info |
| Text | https://www.congress.gov/116/bills/hr6790/BILLS-116hr6790ih.pdf |
