,i #aaf? ,,congress #b;d ,session ,h4 ,r4 #ggif ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #bg1 #bjbj,mrs4 ,beatty 7= h]self & ,ms4 ,wat]s7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to am5d ! ,fair ,debt ,collection ,practices ,act to re/rict collections ( consum] debt dur+ a national disa/] or em]g5cy1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,consum] ,relief dur+ ,,covid-#ai ,act4 #b4 ,re/rictions on collections ( consum] debt dur+ a national disa/] or em]g5cy 7a7 ,9 g5]al ,! ,fair ,debt ,collection ,practices ,act 7#ae ,u4,s4,c4 #afib et seq47 is am5d$ by ins]t+ aft] section #hab 7#ae ,u4,s4,c4 #afib;j7 ! foll[+3 #hab;,a4 ,re/rictions on collections ( consum] debt dur+ a national disa/] or em]g5cy 7a7 ,def9itions ,9 ?is section3 7#a7 ,cov]$ p]iod ,! t]m cov]$ p]iod means ! p]iod beg9n+ on ! date ( enactm5t ( ?is section & end+ #abj days aft] ! end ( ! incid5t p]iod = ! em]g5cy decl>$ on ,m>* #ac1 #bjbj1 by ! ,presid5t "u section #eja ( ! ,rob]t ,t4 ,/af=d ,disa/] ,relief & ,em]g5cy ,assi/ance ,act 7#db ,u4,s4,c4 #daba et seq47 relat+ to ! ,coronavirus ,disease #bjai 7,,covid-#ai7 p&emic4 7#b7 ,cr$itor ,! t]m cr$itor means any p]son-- 7,a7 :o (f]s or ext5ds cr$it creat+ a debt or to :om a debt is ow$2 or 7,b7 to :om any obligation = paym5t is ow$4 7#c7 ,debt ,! t]m debt-- 7,a7 means any obligation or alleg$ obligation t is or dur+ ! cov]$ p]iod becomes pa/ due1 o!r ?an an obligation aris+ out ( a cr$it agreem5t ent]$ into aft] ! effective date ( ?is section1 t arises out ( a transaction ) a consum]2 & 7,b7 does n include a mortgage loan4 7#d7 ,debt collector ,! t]m debt collector means a cr$itor & any o!r p]son or entity t engages 9 ! collection ( debt1 includ+ ! ,f$]al ,gov]nm5t & a ,/ate gov]nm5t1 irrespective ( :e!r ! applicable debt is alleg$ly ow$ to or assign$ to su* cr$itor1 p]son1 or entity4 7#e7 ,mortgage loan ,! t]m mortgage loan means a ,f$]ally back$ mortgage loan 7z def9$ "u section #djbb ( ! ,,c>es ,act7 & a ,f$]ally back$ multifamily mortgage loan 7z def9$ "u section #djbc ( ! ,,c>es ,act74 7b7 ,prohibitions 7#a7 ,9 g5]al ,not)/&+ any o!r provision ( law1 no debt collector may1 dur+ a cov]$ p]iod-- 7,a7 en=ce a security int]e/ secur+ a debt ?r\gh repossession1 limitation ( use1 or =eclosure2 7,b7 take or ?reat5 to take any action to deprive an individual ( _! lib]ty z a result ( nonpaym5t ( or nonappe>ance at any he>+ relat+ to an obligation ow$ by a consum]2 7,c7 collect any debt1 by way ( g>ni%m5t1 atta*m5t1 assignm5t1 d$uction1 (fset1 or o!r seizure1 f-- 7i7 wages1 income1 b5efits1 bank1 prepaid or o!r asset acc\nts2 or 7ii7 any assets (1 or o!r am\nts due to1 a consum]2 7,d7 comm5ce or cont9ue an action to evict a consum] f real or p]sonal prop]ty = nonpaym5t2 7,e7 disconnect or t]m9ate s]vice f a utility s]vice1 includ+ electricity1 natural gas1 telecommunications or broadb&1 wat]1 or sew]1 = nonpaym5t2 or 7,f7 ?reat5 to take any ( ! =ego+ actions4 7#b7 ,rule ( con/ruction ,no?+ 9 ?is section may be con/ru$ to prohibit a consum] f volunt>ily pay+1 9 :ole or 9 "p1 a debt4 7c7 ,limitation on fees & int]e/ ,aft] ! expiration ( a cov]$ p]iod1 a debt collector may n add to any pa/ due debt any int]e/ on unpaid int]e/1 high] rate ( int]e/ trigg]$ by ! nonpaym5t ( ! debt1 or fee trigg]$ prior to ! expiration ( ! cov]$ p]iod by ! nonpaym5t ( ! debt4 7e7 ,violations ,any p]son or gov]nm5t entity t violates ?is section %all be liable to ! applicable consum] z provid$ "u section #hac1 except t1 = purposes ( apply+ section #hac-- 7#a7 su* p]son or gov]nm5t entity %all be deem$ a debt collector1 z su* t]m is def9$ = purposes ( section #hac2 & 7#b7 ea* doll> figure 9 su* section %all be deem$ to be #aj times ! doll> figure specifi$4 7f7 ,toll+ ,any applicable "t limitations = ex]cis+ an action prohibit$ "u subsection 7b7 %all be toll$ dur+ a cov]$ p]iod4 7g7 ,pr$ispute arbitration agreem5ts ,not)/&+ any o!r provision ( law1 no pr$ispute arbitration agreem5t or pr$ispute jo9t-action waiv] %all be valid or en=ceable ) respect to a dispute br\ght "u ?is section1 includ+ a dispute z to ! applicability ( ?is section1 :i* %all be det]m9$ "u ,f$]al law4 4 7b7 ,cl]ical am5dm5t ,! table ( cont5ts = ! ,fair ,debt ,collection ,practices ,act is am5d$ by ins]t+ aft] ! item relat+ to section #hab ! foll[+3 #hab;,a4 ,re/rictions on collections ( consum] debt dur+ a national disa/] or em]g5cy4 4 #c4 ,repaym5t p]iod & =be>ance = consum]s ,section #hab;,a ( ! ,fair ,debt ,collection ,practices ,act 7#ae ,u4,s4,c4 #afib et seq471 z add$ by section #b1 is am5d$-- 7#a7 by ins]t+ aft] subsection 7c7 ! foll[+3 7d7 ,repaym5t p]iod ,aft] ! expiration ( a cov]$ p]iod1 a debt collector %all comply ) ! foll[+3 7#a7 ,debt aris+ f cr$it ) a def9$ paym5t p]iod ,= any debt aris+ f cr$it ) a def9$ t]m1 ! debt collector %all ext5d ! "t p]iod to repay any pa/ due balance ( ! debt by-- 7,a7 #a paym5t p]iod = ea* paym5t t a consum] miss$ dur+ ! cov]$ p]iod1 ) ! paym5ts due 9 ! same am\nts & at ! same int]vals z ! pre-exi/+ paym5t s*$ule2 & 7,b7 #a paym5t p]iod 9 addition to ! paym5t p]iods describ$ "u subp>agraph 7,a74 7#b7 ,debt aris+ f an op5 end cr$it plan ,= debt aris+ f an op5 end cr$it plan1 z def9$ 9 section #ajc ( ! ,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4 #afjb71 ! debt collector %all all[ ! consum] to repay ! pa/-due balance 9 a mann] t does n exce$ ! am\nts p]mitt$ by ! me?ods describ$ 9 section #aga7;c7 ( ! ,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4 #afff;i-#a7;c77 & regulations promulgat$ "u t section4 7#c7 ,debt aris+ f o!r cr$it 7,a7 ,9 g5]al ,= debt n describ$ "u p>agraph 7#b7 or 7#c71 ! debt collector %all-- 7i7 all[ ! consum] to repay ! pa/-due balance ( ! debt 9 sub/antially equal paym5ts ov] "t2 & 7ii7 provide ! consum] )-- 7,i7 = pa/ due balances ( #b1jjj or less1 #ab mon?s to repay1 or su* long] p]iod z ! debt collector may all[2 7,,ii7 = pa/ due balances betwe5 #b1jja & #e1jjj1 #bd mon?s to repay1 or su* long] p]iod z ! debt collector may all[2 or 7,,iii7 = pa/ due balances great] ?an #e1jjj1 #cf mon?s to repay1 or su* long] p]iod z ! debt collector may all[4 7,b7 ,additional protections ,! ,director ( ! ,bureau may issue rules to provide great] repaym5t protections to consum]s ) debts describ$ "u subp>agraph 7,a74 7,c7 ,relation to ,/ate law ,?is p>agraph %all n preempt any ,/ate law t provides = great] consum] protections ?an ?is p>agraph4 2 & 7#b7 by add+ at ! end ! foll[+3 7h7 ,=be>ance = affect$ consum]s 7#a7 ,=be>ance program ,ea* debt collector t makes use ( ! cr$it facility describ$ 9 p>agraph 7#d7 %all e/abli% a =be>ance program = debts available dur+ ! cov]$ p]iod4 7#b7 ,automatic grant ( =be>ance ^u reque/ ,"u a =be>ance program requir$ "u p>agraph 7#a71 ^u ! reque/ ( a consum] exp]i5c+ a f9ancial h>d%ip due1 directly or indirectly1 to ,,covid-#ai1 ! debt collector %all grant a =be>ance on paym5t ( debt = su* "t z ne$$ until ! end ( ! cov]$ p]iod1 ) no additional docum5tation requir$ o!r ?an ! borr[]'s atte/ation to a f9ancial h>d%ip caus$ by ,,covid-#ai & ) no fees1 p5alties1 or int]e/ 7beyond ! am\nts s*$ul$ or calculat$ z if ! borr[] made all contractual paym5ts on "t & 9 full "u ! t]ms ( ! loan contract7 *>g$ to ! borr[] 9 connection ) ! =be>ance4 7#c7 ,exception = c]ta9 mortgage loans subject to ! ,,c>es ,act ,?is subsection %all n apply to a mortgage loan subject to section #djbb or #djbc ( ! ,,c>es ,act4 4 #d4 ,cr$it facility ,section #hab;,a7h7 ( ! ,fair ,debt ,collection ,practices ,act 7#ae ,u4,s4,c4 #afib et seq471 z add$ by section #c1 is am5d$ by add+ at ! end ! foll[+3 7#d7 ,cr$it facility ,! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em %all-- 7,a7 e/abli% a facility1 us+ am\nts made available "u section #djjc7;b77#d7 ( ! ,,c>es ,act 7#ae ,u4,s4,c4 #ijdb7;b77#d771 to make long-t]m1 l[-co/ loans to debt collectors to tempor>ily comp5sate su* debt collectors = docum5t$ f9ancial losses caus$ by =be>ance ( debt paym5ts "u ?is subsection2 & 7,b7 def] debt collectors' requir$ paym5ts on su* loans until aft] consum]s' debt paym5ts resume4 4