H.R. 7796 · 116th Congress
Consumer Relief during COVID–19 Act
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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
BeattySponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill places restrictions on the collection of consumer debts during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days after this period. Among other things, debt collectors may not during this period
What it does: CRS summary · Introduced in House · Jul 27, 2020
Consumer Relief during COVID-19 Act
This bill places restrictions on the collection of consumer debts during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days after this period. Among other things, debt collectors may not during this period
- enforce a security interest through a repossession,
- seize assets,
- commence or continue an eviction,
- terminate utility service, or
- charge fees or apply a higher interest rate as a result of nonpayment.
After this period, debt collectors must provide certain repayment options including extending the repayment period for debts.
The bill also provides for forbearance programs established by creditors for consumers experiencing a financial hardship due to COVID-19. The Federal Reserve Board must establish a credit facility to make long-term, low-cost loans to these creditors for losses caused by any forbearance of payments.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Consumer Relief during COVID–19 Act
Latest action (Jul 27, 2020): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 27, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.