US HB6795 | 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 confession of judgment or similar agreement as a condition to a loan or extension of credit of $2 million or less during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days following. (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 prohibit confessions of judgment in connection with the extension of covered credit or creation of covered debt, and for other purposes.
Sponsors
Rep. Nydia Velazquez [D-NY] | 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
Cardiovascular and respiratory health
Civil actions and liability
Consumer credit
Credit and credit markets
Debt collection
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
Civil actions and liability
Consumer credit
Credit and credit markets
Debt collection
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/6795/all-info |
Text | https://www.congress.gov/116/bills/hr6795/BILLS-116hr6795ih.pdf |