Bill116th CongressFiled May 8, 2020Finance and Financial Sector
H.R. 6795
To prohibit confessions of judgment in connection with the extension of covered credit or creation of covered debt, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
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Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (May 8, 2020)
This bill prohibits a confession of judgment or similar agreement as a condition to a loan or extension of credit of $2 million or less during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days following. (A confession of judgment is an agreement to a judgment of liability without notice and opportunity to be heard in court in the event of the default of a borrower.)
What just happenedMay 8, 2020
Referred to the House Committee on Financial Services.
Who’s behind it
Rep. Velazquez, Nydia M. [D-NY-7](D-NY)Sponsor
1 cosponsor1 D
1cosponsors1committees3actions7subjects
- 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