While we were all distracted by S. 3565 introduced into the senate on March 22nd, Congress had been working on an even more draconian and sweeping bill that could cripple the collections and lending world for years to come. H.R. 6379, the “Take Responsibility for Workers and Families Act” which was introduced on March 23rd an is cosponsored by Financial Services Committee Chairwoman, CA Rep. Maxine Waters, is similar in repossession and collections prohibitions with greater detail than the senate bill, but this bill proposes to extend the period for non-collection and repossessions out to 6 months after the declared end of the pandemic crisis.
Another Collections and Repossession Bill – The Bigger One That Slipped By – Credit Union Collections – Credit Union Collectors
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