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Ending Relief for Debt Collectors: Protecting PPP from Abusive Practices.

This act aims to prevent debt collection companies that have violated the law from receiving Paycheck Protection Program (PPP) loans. This means taxpayer money will not go to entities that have previously engaged in unfair practices against citizens. These changes are intended to protect honest businesses and consumers from abuse.
Key points
Debt collectors found to have violated the Fair Debt Collection Practices Act within the last 10 years will be ineligible for PPP loans.
The goal is to prevent public funds from being used by entities that have previously harmed citizens, increasing trust in aid programs.
The changes do not apply to loans made before the enactment date of this Act.
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Additional Information
Print number: 117_S_1430
Sponsor: Sen. Heinrich, Martin [D-NM]
Process start date: 2021-04-28