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S 3566 116th Congress Senate Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Consumer credit Disaster relief and insurance

Stop Overdraft Profiteering during COVID–19 Emergency Act of 2020

Introduced: March 22, 2020 Introduced by: Booker, Cory A. Democratic · New Jersey See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
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 Congressional Research Service

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.
What's happening now March 22, 2020

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1