US HR6381

Bill

Introduced
03/24/2020

In Committee
03/24/2020

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To require the Board of Governors of the Federal Reserve System to provide zero-interest loans to minority depository institutions and community development financial institutions to combat COVID-19, and for other purposes. This bill requires the Federal Reserve Board to provide interest-free loans to small minority depository institutions and small community development financial institutions during the COVID-19 (i.e., coronavirus disease 2019) emergency period. The board must charge interest on these loans beginning 18 months after the end of the emergency period.

AI Summary

This bill requires the Federal Reserve Board to provide interest-free loans to small minority depository institutions (MDIs) and small community development financial institutions (CDFIs) during the COVID-19 (coronavirus disease 2019) emergency period. The board must begin charging interest on these loans 18 months after the end of the emergency period. The loans are intended to help mitigate the economic impact of COVID-19 in low-income, underserved communities. The bill applies only to MDIs and CDFIs with less than $1 billion in assets.

Committee Categories

Business and Industry

Sponsors (6)

Al Green (D)*, Joyce Beatty (D), Emanuel Cleaver (D), Sylvia Garcia (D), Gregory Meeks (D), Maxine Waters (D),

Last Action

Referred to the House Committee on Financial Services. (on 03/24/2020)

Official Document

https://www.congress.gov/bill/116th-congress/house-bill/6381/all-info

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/house-bill/6381/all-info
BillText	https://www.congress.gov/116/bills/hr6381/BILLS-116hr6381ih.pdf
Bill	https://www.congress.gov/116/bills/hr6381/BILLS-116hr6381ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HR6321	Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act	Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Small Business, the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
HR6379	Take Responsibility for Workers and Families Act Workforce Emergency Response Act of 2020	Referred to the Committee on Appropriations, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related

Bill > HR6381

US HR6381

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (6)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary