No CFPB in the PPP Act

Summary

Official

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.

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Bill Progress

Bill has been introduced and assigned a number

Introduced(1/26/21)

Committee

Passed House

Passed Senate

President

Law