H.R.6550: Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act of 2020

About This Bill

  • Introduced April 17, 2020
  • Latest Major Action April 17, 2020

Bill Version

Bill Summary

Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act of 2020 This bill temporarily provides credit unions with an exception to limits on outstanding member business loans. Specifically, for a three-year period, loans used for recovery from the COVID-19 (i.e., coronavirus disease 2019) emergency do not count towards this limit.

(Source: Library of Congress)

Bill Actions

Date Description
April 17, 2020
Referred to the House Committee on Financial Services.
April 17, 2020

Introduced in the House by Brad Sherman (D-Calif.)

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