Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2021
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 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.
What just happenedMar 1, 2021
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseMar 1, 2021
- Mar 1, 2021IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Mar 1, 2021IntroReferralIntro-H
Introduced in House
- Mar 1, 2021IntroReferral1000
Introduced in House