Small Business and Consumer Debt Collection Emergency Relief Act of 2020

Hozzl · 2022-02-08T23:23:06Z

Explore the details of Senate Bill 3565 Small Business and Consumer Debt Collection Emergency Relief Act of 2020 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

2/8/2022, 11:23 PM

Congressional Summary of S 3565

Small Business and Consumer Debt Collection Emergency Relief Act of 2020

This bill places restrictions on the collection of consumer and small business debts during a major disaster or emergency, including during the COVID-19 (i.e., coronavirus disease 2019) emergency period. Among other things, debt collectors may not during such a period

enforce a security interest through a repossession or foreclosure,
commence or continue litigation to collect a debt,
terminate utility service,
seize assets,
commence or continue an eviction, or
charge fees or apply a higher interest rate as a result of nonpayment.

After such a period, debt collectors must provide certain repayment options including extending the repayment period for debts.

Violations of these provisions are subject to civil enforcement.

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Current Status of Bill S 3565

Bill S 3565 is currently in the status of Bill Introduced since March 22, 2020. Bill S 3565 was introduced during Congress 116 and was introduced to the Senate on March 22, 2020. Bill S 3565's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of March 22, 2020

Bipartisan Support of Bill S 3565

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3565

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

BankruptcyCardiovascular and respiratory healthCivil actions and liabilityConstitution and constitutional amendmentsConsumer creditDebt collectionDisaster relief and insuranceEmergency medical services and trauma careInfectious and parasitic diseasesInterest, dividends, interest ratesPublic utilities and utility ratesSmall business

Alternate Title(s) of Bill S 3565

Small Business and Consumer Debt Collection Emergency Relief Act of 2020Small Business and Consumer Debt Collection Emergency Relief Act of 2020A bill to amend the Fair Debt Collection Practices Act to provide additional protections for consumers and small business owners from debt collection during a major disaster or emergency.

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