3.0.0 6789 2023-01-11T13:42:57Z 2023-01-11T13:42:57Z House HR 2020-05-08 116 [Congressional Record Volume 166, Number 87 (Friday, May 8, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SHERMAN:H.R. 6789.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clauses 1 and 18 of the United StatesConstitution.[Page H1987]]]> hsba00 Financial Services Committee House Standing Referred to 2020-05-08T14:05:05Z Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020 116 3676 S 2020-05-11 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Identical bill CRS 2020-05-08 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2020-05-08 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-05-08 Introduced in House IntroReferral 1000 9 Library of Congress S000344 Rep. Sherman, Brad [D-CA-30] BRAD SHERMAN D CA 30 N F000466 Rep. Fitzpatrick, Brian K. [R-PA-1] Brian Fitzpatrick R PA K. 1 2020-05-08 True W000187 Rep. Waters, Maxine [D-CA-43] MAXINE WATERS D CA 43 2020-05-08 True B001278 Rep. Bonamici, Suzanne [D-OR-1] Suzanne Bonamici D OR 1 2020-05-08 True G000581 Rep. Gonzalez, Vicente [D-TX-15] Vicente Gonzalez D TX 15 2020-05-08 True N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2020-05-08 True N000191 Rep. Neguse, Joe [D-CO-2] Joe Neguse D CO 2 2020-05-08 True C001110 Rep. Correa, J. Luis [D-CA-46] J. Correa D CA Luis 46 2020-05-08 True L000579 Rep. Lowenthal, Alan S. [D-CA-47] Alan Lowenthal D CA S. 47 2020-05-08 True V000133 Rep. Van Drew, Jefferson [R-NJ-2] Jefferson Van Drew R NJ 2 2020-05-08 True T000483 Rep. Trone, David J. [D-MD-6] David Trone D MD J. 6 2020-05-08 True C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2020-07-27 False S001180 Rep. Schrader, Kurt [D-OR-5] Kurt Schrader D OR 5 2020-07-27 False B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2020-07-27 False H001081 Rep. Hayes, Jahana [D-CT-5] Jahana Hayes D CT 5 2020-07-27 False K000382 Rep. Kuster, Ann M. [D-NH-2] Ann Kuster D NH M. 2 2020-07-27 False B001270 Rep. Bass, Karen [D-CA-37] Karen Bass D CA 37 2020-09-22 False C001080 Rep. Chu, Judy [D-CA-27] Judy Chu D CA 27 2020-09-22 False S001208 Rep. Slotkin, Elissa [D-MI-8] Elissa Slotkin D MI 8 2020-10-16 False Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Cardiovascular and respiratory health Credit and credit markets Disaster relief and insurance Emergency medical services and trauma care Infectious and parasitic diseases National Credit Union Administration Small business Finance and Financial Sector 00 2020-05-08 Introduced in House 2021-02-10T17:48:35Z Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act of 2020

This bill eases certain restrictions on credit unions regarding liquidity and lending.

The bill extends waivers applicable to National Credit Union Administration Central Liquidity Facility membership and credit-extension restrictions through December 31, 2021. These waivers currently expire on December 31, 2020. (The National Credit Union Administration Central Liquidity Facility serves as a lender to credit unions that are experiencing certain liquidity shortfalls.)

The bill also 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.

]]> Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020 Display Title Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020 Official Title as Introduced To extend certain temporary credit union provisions enacted under the CARES Act, to include an exception for disaster area member business loans made by insured credit unions, and for other purposes. Introduced in House IH Short Title(s) as Introduced Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020 Introduced in House IH Introduced in House 2020-05-08T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6789ih/xml/BILLS-116hr6789ih.xml 2020-05-08 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.