Summary: H.R.6775 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.6775. Bill summaries are authored by CRS.

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Introduced in House (05/08/2020)

Community Impact Financial Institutions Inclusion Act of 2020

This bill allocates a certain portion of specified COVID-19 (i.e., coronavirus disease 2019) economic aid to finance loans originated by small financial institutions. Specifically, 20% of this aid must be allocated to community lenders, insured depository institutions, and credit unions with less than $10 billion in assets and 5% of this aid must be allocated to minority depository institutions and community development financial institutions with less than $10 billion in assets.