HR 6550 116th Congress House Finance and Financial Sector 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 Infectious and parasitic diseases National Credit Union Administration Small business

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

Introduced: April 17, 2020 Introduced by: Sherman, Brad Democratic · California See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 17, 2020

Referred to the House Committee on Financial Services.

Apr 17, 2020

Introduced in House

Plain-English summary Congressional Research Service

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.

What's happening now April 17, 2020

Referred to the House Committee on Financial Services.

Committees of jurisdiction 1