To establish a Consumer Protection Relief Fund to empower lenders to deploy credit to vulnerable borrowers needing access to credit as a result of the COVID-19 pandemic.
About This Bill
Committee
Latest Action · December 3, 2020
Referred to the House Committee on Financial Services.
Consumer Protection Relief Fund Act or the CPR Fund Act
This bill establishes the Consumer Protection Relief Fund for vulnerable borrowers experiencing financial difficulty in repaying specified loans due to the impact of COVID-19 (i.e., coronavirus disease 2019). Aggregate payments with respect to a borrower may not exceed $9,500.
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