H.R. 6789 · 116th Congress
Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
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
ShermanSponsor18 cosponsors · 16 D, 2 R
D
Bonamici
JC
D
Correa
BF
R
Fitzpatrick
VG
D
Gonzalez
AL
D
Lowenthal
EN
D
Norton
JN
D
Neguse
DT
D
Trone
JV
R
Van Drew
MW
D
Waters
EB
D
Blumenauer
WC
D
Clay
JH
D
Hayes
AK
D
Kuster
KS
D
Schrader
KB
D
Bass
JC
D
Chu
ES
D
Slotkin10 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act of 2020
What it does: CRS summary · Introduced in House · May 8, 2020
Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act of 2020
This bill eases certain restrictions on credit unions regarding liquidity and lending.
The bill extends waivers applicable to National Credit Union Administration Central Liquidity Facility membership and credit-extension restrictions through December 31, 2021. These waivers currently expire on December 31, 2020. (The National Credit Union Administration Central Liquidity Facility serves as a lender to credit unions that are experiencing certain liquidity shortfalls.)
The bill also 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020
Latest action (May 8, 2020): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 8, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.