To modify requirements relating to the participation of community development financial institutions in the paycheck protection program of the Small Business Administration, and for other purposes.
USA116th CongressHR-6888| House
| Updated: 5/15/2020
Alma S. Adams
Democratic Representative
North Carolina
Cosponsors (1)
Small Business Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This bill authorizes community development financial institutions to make loans under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). The bill also allows the Small Business Administration and the Department of the Treasury to revoke a lender's authority to make paycheck protection loans upon a joint determination that (1) the lender has had recent material operational shortcomings that warrant such a revocation, and (2) the revocation is consistent with the purpose of the program.
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Timeline
Introduced in House
Referred to the House Committee on Small Business.
Commerce
Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationBusiness expensesBusiness recordsCardiovascular and respiratory healthCommunity life and organizationCredit and credit marketsDepartment of the TreasuryEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessSmall Business AdministrationWages and earnings
To modify requirements relating to the participation of community development financial institutions in the paycheck protection program of the Small Business Administration, and for other purposes.
USA116th CongressHR-6888| House
| Updated: 5/15/2020
This bill authorizes community development financial institutions to make loans under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). The bill also allows the Small Business Administration and the Department of the Treasury to revoke a lender's authority to make paycheck protection loans upon a joint determination that (1) the lender has had recent material operational shortcomings that warrant such a revocation, and (2) the revocation is consistent with the purpose of the program.
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 Small Business.
Alma S. Adams
Democratic Representative
North Carolina
Cosponsors (1)
Small Business Committee
Commerce
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationBusiness expensesBusiness recordsCardiovascular and respiratory healthCommunity life and organizationCredit and credit marketsDepartment of the TreasuryEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessSmall Business AdministrationWages and earnings