Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2021
USA117th CongressHR-1471| House
| Updated: 3/1/2021
Brad Sherman
Democratic Representative
California
Cosponsors (13)
Doug LaMalfa (Republican)Karen Bass (Democratic)Ed Case (Democratic)Jackie Speier (Democratic)Pete Aguilar (Democratic)Dina Titus (Democratic)Ken Calvert (Republican)Alan S. Lowenthal (Democratic)André Carson (Democratic)Eleanor Holmes Norton (Democratic)Brian K. Fitzpatrick (Republican)Lizzie Fletcher (Democratic)Grace F. Napolitano (Democratic)
Financial Services Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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.
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Timeline
Bill from Previous Congress
HR 116-6789Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020
Bill from Previous Congress
HR 116-6550Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Administrative law and regulatory proceduresBank accounts, deposits, capitalCardiovascular and respiratory healthCredit and credit marketsDisaster relief and insuranceEmergency medical services and trauma careInfectious and parasitic diseasesNational Credit Union AdministrationSmall business
Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2021
USA117th CongressHR-1471| House
| Updated: 3/1/2021
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.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Bill from Previous Congress
HR 116-6789Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020
Bill from Previous Congress
HR 116-6550Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020
Introduced in House
Referred to the House Committee on Financial Services.
Brad Sherman
Democratic Representative
California
Cosponsors (13)
Doug LaMalfa (Republican)Karen Bass (Democratic)Ed Case (Democratic)Jackie Speier (Democratic)Pete Aguilar (Democratic)Dina Titus (Democratic)Ken Calvert (Republican)Alan S. Lowenthal (Democratic)André Carson (Democratic)Eleanor Holmes Norton (Democratic)Brian K. Fitzpatrick (Republican)Lizzie Fletcher (Democratic)Grace F. Napolitano (Democratic)
Financial Services Committee
Finance and Financial Sector
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresBank accounts, deposits, capitalCardiovascular and respiratory healthCredit and credit marketsDisaster relief and insuranceEmergency medical services and trauma careInfectious and parasitic diseasesNational Credit Union AdministrationSmall business