A bill to prohibit depository institutions from assessing overdraft and non-sufficient fund fees during the novel coronavirus crisis and other disasters, and for other purposes.
About This Bill
Committee
Latest Action · March 22, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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.
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