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Business Borrowers Protection Act

USA116th CongressHR-6790| House 
| Updated: 5/8/2020
Brad Sherman

Brad Sherman

Democratic Representative

California

Cosponsors (1)
Maxine Waters (Democratic)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
May 8, 2020
Introduced in House
May 8, 2020
Referred to the House Committee on Financial Services.
  • May 8, 2020
    Introduced in House


  • May 8, 2020
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Administrative law and regulatory proceduresBanking and financial institutions regulationCardiovascular and respiratory healthCredit and credit marketsDepartment of the TreasuryEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall business

Business Borrowers Protection Act

USA116th CongressHR-6790| House 
| Updated: 5/8/2020
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 8, 2020
Introduced in House
May 8, 2020
Referred to the House Committee on Financial Services.
  • May 8, 2020
    Introduced in House


  • May 8, 2020
    Referred to the House Committee on Financial Services.
Brad Sherman

Brad Sherman

Democratic Representative

California

Cosponsors (1)
Maxine Waters (Democratic)

Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresBanking and financial institutions regulationCardiovascular and respiratory healthCredit and credit marketsDepartment of the TreasuryEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall business