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- S.3560
S.3560: Small Business and Consumer Emergency Credit Act
About This Bill
- Introduced March 22, 2020
- Latest Major Action May 12, 2020
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsor
Bill Version
- Introduced in Senate - March 22, 2020
Bill Summary
Small Business and Consumer Emergency Credit Act This bill applies certain military consumer credit protections to all consumers, tax-exempt charitable organizations, and small businesses for credit extended during the COVID-19 (i.e., coronavirus disease 2019) emergency period. Specifically, the bill caps the interest rate on an extension of consumer credit at 36%.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| May 12, 2020 |
Committee on Banking, Housing, and Urban Affairs. Hearings held.
|
| March 22, 2020 |
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
|
| March 22, 2020 |
Introduced in the Senate by Chris Van Hollen (D-Md.) |