Government,
Banking
Jun. 3, 2020
Bill to pause loan repayments would devastate credit institutions, they say
Described in the bill analysis as, “an ambitious proposal the author argues will play a vital role in preventing further economic deterioration or, if the COVID-19 crisis continues, collapse,” Assembly Bill 2501 provides temporary loan forbearance during the emergency and for an additional 180 days thereafter.
A bill providing temporary loan forbearance and other types of borrower relief during the COVID-19 emergency is heading to the full Assembly after receiving no argument Tuesday in the appropriations committee. However, the California Credit Union League president says it would devastate credit unions.
Described in the bill analysis as, "an ambitious proposal the author argues will play a vital role in preventing further economic det...
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