House Bill 6381 - 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.

Purpose and Summary

Chamber: House

Introduced date: 2020-03-24

Recent Activity

Referred to the House Committee on Financial Services.

Alternative Names

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.

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.

Associated Legislation

Workforce Emergency Response Act of 2020

Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act

Policy Areas

Finance and Financial Sector

Potential Impact

Bank accounts, deposits, capital

Cardiovascular and respiratory health

Economic performance and conditions

Emergency medical services and trauma care

Government lending and loan guarantees

Infectious and parasitic diseases

Interest, dividends, interest rates

Minority and disadvantaged businesses

Poverty and welfare assistance

Sponsors and Supporters

Rep. Green, Al [D-TX-9]

Cosponsors and Supporters

Rep. Garcia, Sylvia R. [D-TX-29]

Rep. Meeks, Gregory W. [D-NY-5]

Rep. Cleaver, Emanuel [D-MO-5]

Rep. Beatty, Joyce [D-OH-3]

Rep. Waters, Maxine [D-CA-43]

Committees and Subcommittees

Financial Services Committee

Variations and Revisions