3.0.0 4875 2023-01-11T13:44:21Z 2023-01-11T13:44:21Z Senate S 2020-10-26 116 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2020-10-26T22:42:05Z 2020-10-26 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2020-10-26 Introduced in Senate IntroReferral 10000 9 Library of Congress L000577 Sen. Lee, Mike [R-UT] Mike Lee R UT N T000476 Sen. Tillis, Thomas [R-NC] Thomas Tillis R NC Roland 2020-11-09 False Finance and Financial Sector Accounting and auditing Bank accounts, deposits, capital Banking and financial institutions regulation Business expenses Cardiovascular and respiratory health Civil actions and liability Consumer Financial Protection Bureau Emergency medical services and trauma care Fraud offenses and financial crimes Government lending and loan guarantees Government studies and investigations Infectious and parasitic diseases Small business Wages and earnings Finance and Financial Sector 00 2020-10-26 Introduced in Senate 2021-04-09T17:13:58Z Protections for Good Faith PPP Borrowers and Lenders Act

This bill revises certain provisions of the Paycheck Protection Program established to support small businesses in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic.

The bill expands lender protections against enforcement actions based on the lender's reliance on certifications or documentation submitted by a loan applicant or recipient. Lenders are shielded from such enforcement actions brought under any federal, state, or other criminal or civil law or regulation.

Borrowers under the program are only subject to a related enforcement action or penalty if the borrower commits fraud or makes certain prohibited expenses with loan proceeds.

Loans under the program must be excluded from an asset threshold calculation made by a lending institution.

The Consumer Financial Protection Bureau is prohibited from exercising oversight authority over any lender regarding their participation in the program.

]]> Protections for Good Faith PPP Borrowers and Lenders Act Display Title Protections for Good Faith PPP Borrowers and Lenders Act Short Title(s) as Introduced Protections for Good Faith PPP Borrowers and Lenders Act Introduced in Senate IS Official Title as Introduced A bill to provide protections for good faith borrowers and lenders under the paycheck protection program, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-10-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s4875is/xml/BILLS-116s4875is.xml 2020-10-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.