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S. 49 117th Congress Senate

No CFPB in the PPP Act

Official title: A bill to prohibit the Bureau of Consumer Financial Protection from overseeing lending institutions' participation in the Paycheck Protection Program.

Introduced: January 26, 2021 Introduced by: Mike Lee Republican · Utah See on congress.gov
Finance and Financial Sector Accounting and auditingBanking and financial institutions regulationBusiness expensesCardiovascular and respiratory health
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Civil actions and liabilityConsumer Financial Protection BureauConsumer creditEmergency medical services and trauma careGovernment lending and loan guaranteesGovernment studies and investigationsInfectious and parasitic diseasesSmall businessUser charges and feesWages and earnings
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
Jan 26, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 26, 2021
Introduced in Senate
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 Latest action January 26, 2021

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

 Plain-English summary Congressional Research Service

No CFPB in the PPP Act

This bill prohibits the Consumer Financial Protection Bureau from exercising oversight authority over a lender regarding its participation in the Paycheck Protection Program. The Paycheck Protection Program was established in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic and facilitates loans to small businesses.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Paul, Rand
Kentucky · Feb 1, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 49: No CFPB in the PPP Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-49/
MLA
"S. 49: No CFPB in the PPP Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-49/.
Bluebook (legal)
S. 49, 117th Cong. (2026), https://openamerica.io/bill/117-S-49/.
Markdown link
[S. 49: No CFPB in the PPP Act](https://openamerica.io/bill/117-S-49/)
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