HR 6790
116th Congress
House
Finance and Financial Sector
Administrative law and regulatory procedures
Banking and financial institutions regulation
Cardiovascular and respiratory health
Credit and credit markets
Department of the Treasury
Emergency medical services and trauma care
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
Business Borrowers Protection Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 8, 2020
Referred to the House Committee on Financial Services.
May 8, 2020
Introduced in House
Plain-English summary
Business Borrowers Protection Act
This bill prohibits a creditor from enforcing a loan covenant that requires the accelerated repayment of a loan if the borrower receives a loan under certain COVID-19 (i.e., coronavirus disease 2019) economic aid programs. Additionally, a creditor is prohibited from enforcing any loan covenant beginning on the date of enactment of this bill and ending one year after the termination of the COVID-19 national emergency.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1
Cosponsors
1