Bill116th CongressFiled May 8, 2020Finance and Financial Sector
H.R. 6790
Business Borrowers Protection Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (May 8, 2020)
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.
What just happenedMay 8, 2020
Referred to the House Committee on Financial Services.
Who’s behind it
Rep. Sherman, Brad [D-CA-30](D-CA)Sponsor
1 cosponsor1 D
1cosponsors1committees3actions9subjects
- Introduced in HouseMay 8, 2020
- May 8, 2020IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - May 8, 2020IntroReferralIntro-H
Introduced in House
- May 8, 2020IntroReferral1000
Introduced in House