HR 6790 · 116th Congress · Finance and Financial Sector

Business Borrowers Protection Act

Introduced 2020-05-08· Sponsored by Rep. Sherman, Brad [D-CA-30]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Financial Services.(2020-05-08)

Plain Language Summary

[AI summary unavailable — showing source text] Business Borrowers Protection Act This bill prohibits a creditor from enforcing a loan covenant that requires the accelerated repayment of a loan if the borrower receives a loan under certain COVID-19 (i.e., coronavirus disease 2019) economic aid programs. Additionally, a creditor is prohibited from enforcing any loan covenant beginning on the date of enactment of this bill and ending one year after the termination of the COVID-19 national emergency.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Rep. Waters, Maxine [D-CA-43]CA