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S. 4875 116th Congress Senate

Protections for Good Faith PPP Borrowers and Lenders Act

Official title: A bill to provide protections for good faith borrowers and lenders under the paycheck protection program, and for other purposes.

Introduced: November 9, 2020 Introduced by: Mike Lee Republican · Utah See on congress.gov
Finance and Financial Sector Accounting and auditingBank accounts, deposits, capitalBanking and financial institutions regulationBusiness expenses
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 26, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Oct 26, 2020
Introduced in Senate
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 Latest action October 26, 2020

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

 Plain-English summary Congressional Research Service

Protections for Good Faith PPP Borrowers and Lenders Act

This bill revises certain provisions of the Paycheck Protection Program established to support small businesses in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic.

The bill expands lender protections against enforcement actions based on the lender's reliance on certifications or documentation submitted by a loan applicant or recipient. Lenders are shielded from such enforcement actions brought under any federal, state, or other criminal or civil law or regulation.

Borrowers under the program are only subject to a related enforcement action or penalty if the borrower commits fraud or makes certain prohibited expenses with loan proceeds.

Loans under the program must be excluded from an asset threshold calculation made by a lending institution.

The Consumer Financial Protection Bureau is prohibited from exercising oversight authority over any lender regarding their participation in the program.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Tillis, Thomas
North Carolina · Nov 9, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4875: Protections for Good Faith PPP Borrowers and Lenders Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-4875/
MLA
"S. 4875: Protections for Good Faith PPP Borrowers and Lenders Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-4875/.
Bluebook (legal)
S. 4875, 116th Cong. (2026), https://openamerica.io/bill/116-S-4875/.
Markdown link
[S. 4875: Protections for Good Faith PPP Borrowers and Lenders Act](https://openamerica.io/bill/116-S-4875/)
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