Expressing the sense of the Congress with regard to a moratorium on the payment of principal or interest on certain mortgage loans, small business loans, and consumer loans for residents of a Federal disaster area.
Latest action · Jan 4, 2006 Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Progress
Where this resolution reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried. A concurrent resolution must be agreed to by both chambers, but it is not presented to the President and does not become law.
- IntroducedSep 29, 2005
- Agreed to in HouseNot reached
- Agreed to in SenateNot reached
Summary
Expresses the sense of Congress that: (1) a voluntary moratorium on mortgage, small business, and consumer loans should be recognized by creditors for a 90-day period beginning on August 28, 2005, with respect to borrowers who resided in, or whose businesses were within, an area in which the President determined that a major disaster exists; (2) creditors should take into account the effect of this dislocation and provide flexibility to affected consumers when considering applications for new loans and credit accounts; (3) federal financial institution regulatory agencies should provide written guidance for financial institutions in implementing such a moratorium; and (4) creditors should refrain from negative reporting with respect to any such loans during this period.
Cosponsors 1
Members who signed on, in the order they did. All signed on Sep 29, 2005.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-UT | Jim Matheson | Original | Sep 29, 2005 |
Actions 3
Everything that happened, newest first.
- Jan 4, 2006Referred to the Subcommittee on Financial Institutions and Consumer Credit.
- Sep 29, 2005Introduced in House
- Sep 29, 2005Referred to the House Committee on Financial Services.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Administrative procedure
- Alabama
- Bank examination
- Commerce
- Consumer credit
- Debtor and creditor
- Department of the Treasury
- Disaster relief
- Disasters
- Displaced persons
- Emergency Management
- Federal Deposit Insurance Corporation
- Federal Reserve System
- Finance and Financial Sector
- Floods
- Florida
- Government corporations
- Government Operations and Politics
- Housing and Community Development
- Hurricane aftermath legislation
- Hurricanes
- Interest
- Law
- Loan defaults
- Loans
- Louisiana
- Mississippi
- Mortgages
- National Credit Union Administration
- Small business
- Texas
- Water Resources Development
Text 1
Each version as it was printed, newest first.
- Sep 29, 2005Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this resolution on Congress.gov and govinfo.gov.