S.3565 - Small Business and Consumer Debt Collection Emergency Relief Act of 2020116th Congress (2019-2020)
|Sponsor:||Sen. Brown, Sherrod [D-OH] (Introduced 03/22/2020)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 03/22/2020 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.3565 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (03/22/2020)
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.