S. 49 · 117th Congress
No CFPB in the PPP Act
- Stage
- In committee
- Sponsor
- Mike Lee
- Introduced
- 2021-01-26
- Latest action
- 2021-01-26 · Introduced in Senate
Summary
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.