Small Business and Consumer Emergency Credit Act

United States116th CongressS-3560Senate
Updated: May 12, 2020

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%.

Bill texts

Available versions
Introduced (Senate)View official text

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Timeline

  1. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Senate

  2. Introduced in Senate

  3. Committee on Banking, Housing, and Urban Affairs. Hearings held.

    Senate

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