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Consumer Protection Relief Fund: COVID-19 Debt Assistance

This act establishes a Consumer Protection Relief Fund to assist individuals facing financial hardship due to the COVID-19 pandemic. The fund will help repay a portion of their loans, in exchange for creditors forgiving the remaining debt and removing negative credit reports. The goal is to facilitate access to credit for those most in need.
Key points
Assistance for low-income or unemployed individuals struggling with loan repayments due to COVID-19.
Creditors receive up to 95% of the outstanding loan amount but must forgive the remaining debt and remove negative credit entries.
Maximum assistance per individual is $9,500.
Creditors receiving aid must commit to issuing new loans to those in need.
The act aims to increase access to responsible lending for vulnerable populations.
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Expired
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Additional Information
Print number: 117_HR_1151
Sponsor: Rep. Lynch, Stephen F. [D-MA-8]
Process start date: 2021-02-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

CPR Fund Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1151.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-18.

What are the main provisions?

Key points include:

  • Assistance for low-income or unemployed individuals struggling with loan repayments due to COVID-19.
  • Creditors receive up to 95% of the outstanding loan amount but must forgive the remaining debt and remove negative credit entries.
  • Maximum assistance per individual is $9,500.
  • Creditors receiving aid must commit to issuing new loans to those in need.
  • The act aims to increase access to responsible lending for vulnerable populations.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lynch, Stephen F. [D-MA-8].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

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