H.R. 6934 · 116th Congress
Uniform Treatment of NRSROs Act
- Stage
- Passed a chamber
- Sponsor
- Madeleine Dean
- Introduced
- 2020-05-19
- Latest action
- 2020-09-22 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Summary
Uniform Treatment of NRSROs Act
This bill provides for the uniform treatment under existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs of nationally recognized statistical rating organizations registered with the Securities and Exchange Commission. This allows entities, securities, and other instruments with a credit rating from such an organization to use the rating to qualify for these aid programs.
Furthermore, the Government Accountability Office must report on credit rating quality across organizations, their effect on access to capital markets, and the implementation of this bill.