HR 1471
117th 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 2021
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 1, 2021
Referred to the House Committee on Financial Services.
Mar 1, 2021
Introduced in House
Plain-English summary
Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act of 2021
This bill temporarily provides credit unions with an exception to limits on outstanding member business loans. Specifically, a loan does not count towards this limit if (1) it is used for recovery from the COVID-19 (i.e., coronavirus disease 2019) emergency, (2) it is made by an insured credit union that has received a specified soundness rating, (3) it is made during a specified time period, and (4) it does not threaten the safety and soundness of the insured credit union.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1