HB 6544 Payday and Predatory Loans Moratorium Act of 2020
US Congress 116th Congress
Payday and Predatory Loans Moratorium Act of 2020
HB-6544
About HB-6544
Prohibits for one year efforts by a lender to collect on certain debts owed by a borrower affected by the COVID-19 (i.e., coronavirus disease 2019) pandemic. Specifically, lenders are prohibited from collection efforts against such a borrower with respect to
- (1) a loan with a nominal interest rate of 36% or more, and
- (2) a loan which the lender did not determine was affordable while allowing the borrower to meet basic living expenses and major financial obligations.
Bill Texts
Introduced 04/24/2020
Weigh In
No votes yet!
Cast yours now to be the first.
Votes for: 0 Votes against: 0
Spread the Word!
Gettr
Sponsors (1)
