S. 5078

Referred to Committee

A bill to amend the CARES Act to extend the temporary relief from troubled debt restructurings.

Introduced 12/21/2020•116th Congress•Senate

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

12/21/2020 • Senate

Summary

This bill revises the applicable period during which a financial institution may suspend loan modification requirements as applied to a troubled debt restructuring. Currently, this period ends on the earliest of December 31, 2020, or the date that is 60 days after the termination of the COVID-19 (i.e., coronavirus disease 2019) national emergency. The bill revises this period to end on the earliest of January 1, 2022, or the date that is 60 days after the termination of the COVID-19 national emergency.

Introduced in Senate • 12/21/2020

Enter your district to see how this bill affects your community

Topics & Subjects

Policy Area: Finance and Financial Sector

Accounting and auditingBanking and financial institutions regulationCardiovascular and respiratory healthCredit and credit marketsEmergency medical services and trauma careInfectious and parasitic diseases