HR 1471 · 117th Congress · Finance and Financial Sector
Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2021
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Financial Services.(2021-03-01)
Plain Language Summary
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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.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (13)
10 Democrats3 Republicans