Summary: S.49 — 117th Congress (2021-2022)All Information (Except Text)

There is one summary for S.49. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (01/26/2021)

No CFPB in the PPP Act

This bill prohibits the Consumer Financial Protection Bureau from exercising oversight authority over a lender regarding its participation in the Paycheck Protection Program. The Paycheck Protection Program was established in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic and facilitates loans to small businesses.