US HR6423

Bill

To provide for a temporary debt collection moratorium during the COVID-19 emergency period, and for other purposes.

Introduced
03/31/2020

In Committee
03/31/2020

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To provide for a temporary debt collection moratorium during the COVID-19 emergency period, and for other purposes. This bill places restrictions on the collection of debt owed by a consumer, nonprofit organization, or small business during the COVID-19 (i.e., coronavirus disease 2019) emergency period and the following 120 days. Among other things, debt collectors may not during this period charge fees or apply a higher interest rate as a result of nonpayment, commence or continue litigation to collect a debt, enforce a security interest through a repossession or foreclosure, report past due debt to a credit reporting agency, seize assets, or terminate utility service. The bill also prohibits during this period a confession of judgment or similar agreement as a condition to a loan or extension of credit. (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.)

AI Summary

This bill provides for a temporary debt collection moratorium during the COVID-19 (coronavirus disease 2019) emergency period and the 120 days following. During this period, debt collectors are prohibited from various debt collection activities, such as capitalizing interest or fees, suing or threatening to sue, enforcing security interests, reporting past-due debt to credit agencies, garnishing wages or seizing assets, or disconnecting utility services. The bill also prohibits the use of confessions of judgment or similar agreements as a condition of a loan or extension of credit during this period.

Committee Categories

Business and Industry

Sponsors (4)

Al Lawson (D)*, Carolyn Maloney (D), Ayanna Pressley (D), Maxine Waters (D),

Last Action

Referred to the House Committee on Financial Services. (on 03/31/2020)

Official Document

https://www.congress.gov/bill/116th-congress/house-bill/6423/all-info

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/house-bill/6423/all-info
BillText	https://www.congress.gov/116/bills/hr6423/BILLS-116hr6423ih.pdf
Bill	https://www.congress.gov/116/bills/hr6423/BILLS-116hr6423ih.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 > HR6423

US HR6423

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (4)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary