H.R. 6544 · 116th Congress
Payday and Predatory Loans Moratorium Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MeeksSponsorNo cosponsors.
This bill prohibits for one year efforts by a lender to collect on certain debts owed by a borrower affected by the COVID-19 (i.e., coronavirus disease 2019) pandemic.
What it does: CRS summary · Introduced in House · Apr 17, 2020
Payday and Predatory Loans Moratorium Act of 2020
This bill prohibits for one year efforts by a lender to collect on certain debts owed by a borrower affected by the COVID-19 (i.e., coronavirus disease 2019) pandemic. Specifically, lenders are prohibited from collection efforts against such a borrower with respect to (1) a loan with a nominal interest rate of 36% or more, and (2) a loan which the lender did not determine was affordable while allowing the borrower to meet basic living expenses and major financial obligations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Payday and Predatory Loans Moratorium Act of 2020
Latest action (Apr 17, 2020): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Apr 17, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.