House Bill 6550
116th Congress(2019-2020)
Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020
Introduced
Introduced in House on Apr 17, 2020
Origin Chamber
House
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
6550
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.
No House votes have been held for this bill.
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.
April 17, 2020
04/17/2020
Referred to the House Committee on Financial Services.
04/17/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:43:10 PM