,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fgie  ,,in ,,the ,,house ,,of  
,,representatives  ,may #h1 #bjbj,ms4   
,velzquez 7for herself and ,ms4 ,waters7
 introduced the following bill2 which   
was referred to the ,committee on       
,financial ,services  ,a ,,bill  ,to    
prohibit confessions of judgment in     
connection with the extension of covered
 credit or creation of covered debt1 and
 for other purposes4  #a4 ,confessions  
of judgment prohibition  7a7 ,in general
 ,during the covered period1 in         
connection with an extension of covered 
credit or the creation of a covered debt
 in or affecting commerce 7including any
 advance of funds or sale or assignment 
of future income or receivables that may
 or may not be credit71 no person may   
directly or indirectly take or receive  
from another person1 or seek to enforce1
 an obligation that constitutes or      
contains a cognovit or confession of    
judgment 7for purposes other than       
executory process in the ,state of      

,louisiana71 warrant of attorney1 or    
other waiver of the right to notice and 
the opportunity to be heard in the event
 of suit or process thereon4  7b7       
,enforcement ,any person who fails to   
comply with the requirements of this    
section with respect to any obligation  
owed by a covered borrower shall-- 7#a7 
be held liable under section #hac of the
 ,fair ,debt ,collection ,practices ,act
 7#ae ,u4,s4,c4 #afibk7 where-- 7,a7 the
 covered borrower is deemed to be a     
consumer1 as defined in section #hjc of 
such ,act2 and  7,b7 the person is      
deemed to be a debt collector1 as       
defined in such section2 and  7#b7 be   
liable to the covered borrower in an    
amount equal to #aj times the maximum   
amount of damages allowed under section 
#hac of such ,act for each violation of 
the requirements of this section4  7c7  
,consideration ,at the end of the       
covered period1 a person to whom an     
obligation described in subsection 7a7  
is owed shall take into consideration   

the financial situation of the covered  
borrower that owes such obligation for  
the repayment of such obligation4  7d7  
,definitions ,in this section3 7#a7     
,commerce ,the term commerce has the    
meaning given in section #d of the      
,federal ,trade ,commission ,act 7#ae   
,u4,s4,c4 #dd74  7#b7 ,covered borrower 
,the term covered borrower means a      
person that-- 7,a7 receives credit or an
 advance of funds2 or  7,b7 makes an    
assignment of future income or          
receivables4  7#c7 ,covered credit ,the 
term covered credit means credit        
provided to a covered borrower in an    
amount that is less than or equal to    
#b1jjj1jjj4  7#d7 ,covered debt ,the    
term covered debt means any obligation  
of a covered borrower to pay to another 
person an amount that is less than or   
equal to #b1jjj1jjj-- 7,a7 regardless of
 whether such obligation is absolute or 
contingent if the understanding between 
the parties is that any part of such    
amount shall be or may be returned2     

7,b7 that includes the right of the     
person providing the money to an        
equitable remedy for breach of          
performance if the breach gives rise to 
a right to payment2 and  7,c7 regardless
 of whether the obligation or right to  
an equitable remedy described in        
subparagraph 7,b7 has been reduced to   
judgment1 fixed1 contingent1 matured1   
unmatured1 disputed1 undisputed1        
secured1 or unsecured4  7#e7 ,covered   
period ,the term covered period means   
the period beginning on the date of the 
enactment of this section and ending    
#abj days after the end of the incident 
period for the emergency declared on    
,march #ac1 #bjbj1 by the ,president    
under ,section #eja of the ,robert ,t4  
,stafford ,disaster ,relief and         
,emergency ,assistance ,act 7#db        
,u4,s4,c4 #daba et seq47 relating to the
 ,coronavirus ,disease #bjai            
7,,covid-#ai7 pandemic4