Summary: S.3566 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.3566. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/22/2020)

Stop Overdraft Profiteering during COVID-19 Emergency Act of 2020

This bill suspends, during a major disaster or emergency declaration and for 120 days after the end of the incident period, certain penalties applicable to consumer transaction accounts. During such a period, depository institutions are prohibited from

  • charging checking-account penalties (i.e., non-sufficient fund fees and overdraft coverage fees), or 
  • reporting a consumer's overdraft use to a credit reporting agency.