H.R. 6795 · 116th Congress
To prohibit confessions of judgment in connection with the extension of covered credit or creation of covered…
Full title
To prohibit confessions of judgment in connection with the extension of covered credit or creation of covered debt, and for other purposes.
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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
VelázquezSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill prohibits a confession of judgment or similar agreement as a condition to a loan or extension of credit of $2 million or less during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days following.
What it does: CRS summary · Introduced in House · May 8, 2020
This bill prohibits a confession of judgment or similar agreement as a condition to a loan or extension of credit of $2 million or less during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days following. (A confession of judgment is an agreement to a judgment of liability without notice and opportunity to be heard in court in the event of the default of a borrower.)
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To prohibit confessions of judgment in connection with the extension of covered credit or creation of covered debt, and for other purposes.
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.