Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2021
- Last Action
- 3/1/2021
Actions
- 2021-03-01Referred to the House Committee on Financial Services.
- 2021-03-01Introduced in House
- 2021-03-01Introduced in House
CRS Summary
As of 2021-03-01 (00)
Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act of 2021
This bill 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.
Cosponsors (13)
- Brian Fitzpatrick (R-PA)
- GRACE NAPOLITANO (D-CA)
- Karen Bass (D-CA)
- Dina Titus (D-NV)
- ELEANOR NORTON (D-DC)
- Jackie Speier (D-CA)
- Alan Lowenthal (D-CA)
- André Carson (D-IN)
- Pete Aguilar (D-CA)
- KEN CALVERT (R-CA)
- Doug LaMalfa (R-CA)
- Lizzie Fletcher (D-TX)
- Ed Case (D-HI)
Subjects
- Administrative law and regulatory procedures
- Bank accounts, deposits, capital
- Cardiovascular and respiratory health
- Credit and credit markets
- Disaster relief and insurance
- Emergency medical services and trauma care
- Infectious and parasitic diseases
- National Credit Union Administration
- Small business
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.