Small Business and Consumer Emergency Credit Act

Fact Sheet API

Bill Number

S 3560

Introduced

Mar 22, 2020

Latest Action

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Sponsor

Cosponsors

Topics

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

Full Text

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Votes

Summary

Small Business and Consumer Emergency Credit Act

This bill 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%.

Actions

May 12, 2020

Committee on Banking, Housing, and Urban Affairs. Hearings held.
Mar 22, 2020

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 22, 2020

Introduced in Senate

Amendments

Related Bills