Bill Sponsor
Senate Bill 3566
116th Congress(2019-2020)
Stop Overdraft Profiteering during COVID–19 Emergency Act of 2020
Introduced
Introduced
Introduced in Senate on Mar 22, 2020
Overview
Text
Introduced
Mar 22, 2020
Latest Action
Mar 22, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3566
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Democrat
New Jersey
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Stop Overdraft Profiteering during COVID-19 Emergency Act of 2020

This bill suspends, during a major disaster or emergency declaration and for 120 days after the end of the incident period, certain penalties applicable to consumer transaction accounts. During such a period, depository institutions are prohibited from

  • charging checking-account penalties (i.e., non-sufficient fund fees and overdraft coverage fees), or 
  • reporting a consumer's overdraft use to a credit reporting agency.
Text (1)
March 22, 2020
Actions (2)
03/22/2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
03/22/2020
Introduced in Senate
Public Record
Record Updated
Feb 8, 2022 11:15:56 PM