Small Business and Consumer Emergency Credit Act
Latest action · May 12, 2020 Committee on Banking, Housing, and Urban Affairs. Hearings held.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 22, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
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%.
Cosponsors 1
Members who signed on, in the order they did. All signed on Mar 22, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-OH | Sherrod Brown | Original | Mar 22, 2020 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Mar 22, 2020Hearings May 12, 2020 |
Actions 3
Everything that happened, newest first.
- May 12, 2020Committee on Banking, Housing, and Urban Affairs. Hearings held.
- Mar 22, 2020Introduced in Senate
- Mar 22, 2020Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Truth in Lending Act to extend the consumer credit protections provided to members of the Armed Forces and their dependents under title 10, United States Code, to all consumers.
- Short Title(s) as Introduced
- Small Business and Consumer Emergency Credit Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- 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
Text 1
Each version as it was printed, newest first.
- Mar 22, 2020Introduced in Senate
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 bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
