Repossession and Collections Moratorium Proposal to be Included in Next Phase of Stimulus Spending

CUCollector.com is attempting to receive a copy of a ten-page memo shared with House Democrat members by the Financial Services Committee on Tuesday, which CUTimes and CUToday reported that they had received a copy of. Within this memo, they outline the additional proposals that they desire to be part of the next phase of stimulus spending and overnight, revisions to S.3565 were made that mirror these proposals. These include; a moratorium of foreclosures, repossession and prohibits debt collector from taking any adverse action against a borrower during the pandemic and an additional 120 days after.

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