S 3560
116th Congress
Senate
Finance and Financial Sector
Cardiovascular and respiratory health
Civil actions and liability
Consumer credit
Emergency medical services and trauma care
Infectious and parasitic diseases
Interest, dividends, interest rates
Small business
Social work, volunteer service, charitable organizations
State and local government operations
Small Business and Consumer Emergency Credit Act
Introduced: March 22, 2020
Introduced by:
Van Hollen, Chris
Democratic
· Maryland
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 12, 2020
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Mar 22, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 22, 2020
Introduced in Senate
Plain-English 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%.
What's happening now
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Committees of jurisdiction
1