Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020

Fact Sheet API

Bill Number

HR 6550

Introduced

Apr 17, 2020

Latest Action

Referred to the House Committee on Financial Services.

Sponsor

Cosponsors

Topics

Administrative law and regulatory procedures Bank accounts, deposits, capital Cardiovascular and respiratory health Credit and credit markets Disaster relief and insurance Emergency medical services and trauma care Finance and Financial Sector Infectious and parasitic diseases National Credit Union Administration Small business

Full Text

View Full Bill Text

Votes

Summary

Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act of 2020

This bill temporarily provides credit unions with an exception to limits on outstanding member business loans. Specifically, for a three-year period, loans used for recovery from the COVID-19 (i.e., coronavirus disease 2019) emergency do not count towards this limit.

Actions

Apr 17, 2020

Referred to the House Committee on Financial Services.
Apr 17, 2020

Introduced in House

Amendments

Related Bills