To require the Board of Governors of the Federal Reserve System to provide zero-interest loans to minority depository institutions and community development financial institutions to combat COVID-19, and for other purposes.
USA116th CongressHR-6381| House
| Updated: 3/24/2020
Al Green
Democratic Representative
Texas
Cosponsors (5)
Financial Services Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This bill requires the Federal Reserve Board to provide interest-free loans to small minority depository institutions and small community development financial institutions during the COVID-19 (i.e., coronavirus disease 2019) emergency period. The board must charge interest on these loans beginning 18 months after the end of the emergency period.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Bank accounts, deposits, capitalCardiovascular and respiratory healthEconomic performance and conditionsEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesInterest, dividends, interest ratesMinority and disadvantaged businessesPoverty and welfare assistance
To require the Board of Governors of the Federal Reserve System to provide zero-interest loans to minority depository institutions and community development financial institutions to combat COVID-19, and for other purposes.
USA116th CongressHR-6381| House
| Updated: 3/24/2020
This bill requires the Federal Reserve Board to provide interest-free loans to small minority depository institutions and small community development financial institutions during the COVID-19 (i.e., coronavirus disease 2019) emergency period. The board must charge interest on these loans beginning 18 months after the end of the emergency period.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Al Green
Democratic Representative
Texas
Cosponsors (5)
Financial Services Committee
Finance and Financial Sector
Related Bills
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Bank accounts, deposits, capitalCardiovascular and respiratory healthEconomic performance and conditionsEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesInterest, dividends, interest ratesMinority and disadvantaged businessesPoverty and welfare assistance