House Bill 6381
116th Congress(2019-2020)
To require the Board of Governors of the Federal Reserve System to provide zero-interest loans to minority depository institutions and community development financial institutions to combat COVID-19, and for other purposes.
Introduced
Introduced in House on Mar 24, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6381
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
This bill requires the Federal Reserve Board to provide interest-free loans to small minority depository institutions and small community development financial institutions during the COVID-19 (i.e., coronavirus disease 2019) emergency period. The board must charge interest on these loans beginning 18 months after the end of the emergency period.
March 24, 2020
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03/24/2020
Referred to the House Committee on Financial Services.
03/24/2020
Introduced in House
Public Record
Record Updated
Feb 9, 2022 2:12:27 AM