,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fedd  ,,in ,,the ,,house ,,of  
,,representatives  ,april #ag1 #bjbj,mr4
 ,meeks introduced the following bill2  
which was referred to the ,committee on 
,financial ,services  ,a ,,bill  ,to    
establish a moratorium on collection    
efforts made by certain lenders against 
borrowers affected by coronavirus4  #a4 
,short title ,this ,act may be cited as 
the ,payday and ,predatory ,loans       
,moratorium ,act of #bjbj4  #b4         
,moratorium on collection efforts for   
certain borrowers affected by           
coronavirus  7a7 ,moratorium ,during the
 one-year period beginning on the date  
on which a borrower notifies a covered  
lender of the borrower being affected by
 coronavirus1 the covered lender may not
 carry out any collection efforts       
against the borrower with respect to a  
loan described in subsection 7b74  7b7  
,loan described ,a loan described in    
this subsection is any of the following 
loans3 7#a7 ,a loan with nominal        

interest rates of #cf percent or more4  
7#b7 ,a loan by a covered lender        
described in subsection 7c77#c77;,b7    
that does not1 or did not at the time of
 issuing the loan1 determine whether the
 borrower can afford1 while still       
meeting the basic living expenses and   
major financial obligations of the      
borrower-- 7,a7 with respect to payday  
and auto title loans that are due in one
 lump sum within one month of the date  
of such issuance1 the full payment of   
the total loan amount1 plus fees and    
finance charges2 or  7,b7 with respect  
to longer-term loans with a balloon     
payment1 the payments for the month with
 the highest total payments on the loan4
  7c7 ,definitions  7#a7 ,affected by   
coronavirus ,the term affected by       
coronavirus means1 with respect to a    
borrower1 any of the following          
circumstances3 7,a7 ,the household      
income of the borrower is reduced by    
reason of coronavirus disease #bjai     
7,,covid-#ai74  7,b7 ,the borrower      

becomes unemployed by reason of such    
disease4  7,c7 ,the borrower1 or a      
member of the household of the borrower1
 is hospitalized by reason of such      
disease4  7,d7 ,the borrower resides or 
is employed in an area covered by an    
emergency declared by the ,federal      
,government or a ,state or local        
government as a result of such disease4 
7#b7 ,collection efforts ,the term      
collection efforts means any of the     
following actions1 or attempted actions1
 made by a covered lender 7or a         
collection agency acting on behalf of   
the covered lender7 in order to collect 
amounts owed to the lender by a         
borrower3 7,a7 ,contacting the borrower 
by telephone1 including by text message4
  7,b7 ,contacting the employer of the  
borrower4  7,c7 ,cashing post-dated     
checks of the borrower or making a      
direct withdrawal from a bank account of
 the borrower4  7,d7 ,entering into an  
agreement with a collections agency to  
collect such amounts4  7,e7 ,reporting  

to a credit reporting agency any missed 
payments related to such amounts4  7,f7 
,any other effort not described in      
subparagraphs 7,a7 through 7,e7 to      
enforce the collection of the amounts or
 the making of payments related to such 
amounts4  7#c7 ,covered lender ,the term
 covered lender means any of the        
following3 7,a7 ,a payday lender4  7,b7 
,a lender who is not a depository       
institution 7as defined under section #c
 of the ,federal ,deposit ,insurance    
,act 7#ab ,u4,s4,c4 #ahac77 or a        
,federal or ,state credit union 7as such
 terms are defined under section #aja of
 the ,federal ,credit ,union ,act 7#ab  
,u4,s4,c4 #ageb774