Expressing the sense of the Congress with regard to a moratorium on the payment of principal or interest on certain mortgage loans, small business loans, and consumer loans for residents of a Federal disaster area.

Summary

Expresses the sense of Congress that: (1) a voluntary moratorium on mortgage, small business, and consumer loans should be recognized by creditors for a 90-day period beginning on August 28, 2005, with respect to borrowers who resided in, or whose businesses were within, an area in which the President determined that a major disaster exists; (2) creditors should take into account the effect of this dislocation and provide flexibility to affected consumers when considering applications for new loans and credit accounts; (3) federal financial institution regulatory agencies should provide written guidance for financial institutions in implementing such a moratorium; and (4) creditors should refrain from negative reporting with respect to any such loans during this period.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 September 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 29 September 2005

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 29 September 2005

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.