H.R. 6576 · 116th Congress
Stop Overdraft Profiteering during COVID–19 Emergency Act of 2020
- Stage
- In committee
- Sponsor
- David Cicilline
- Introduced
- 2020-04-21
- Latest action
- 2020-04-21 · Introduced in House
Summary
Stop Overdraft Profiteering during COVID-19 Emergency Act of 2020
This bill suspends, during a major disaster or emergency declaration and for 120 days after the end of the incident period, certain penalties applicable to consumer transaction accounts. During such a period, depository institutions are prohibited from
charging checking-account penalties (i.e., non-sufficient fund fees and overdraft coverage fees), or reporting a consumer's overdraft use to a credit reporting agency.