Sec. 4. Credit facility

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Section 812A(h) of the Fair Debt Collection Practices Act ( 15 U.S.C. 1692 et seq.), as added by section 3, is amended by adding at the end the following: The Board of Governors of the Federal Reserve System shall— establish a facility, using amounts made available under section 4003(b)(4) of the CARES Act ( 15 U.S.C. 9042(b)(4) ), to make long-term, low-cost loans to debt collectors to temporarily compensate such debt collectors for documented financial losses caused by forbearance of debt payments under this subsection; and defer debt collectors’ required payments on such loans until after consumers’ debt payments resume. .

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U.S. Code

Congressional findings and declaration of purpose
§ 1692
Emergency relief and taxpayer protections
§ 9042

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Sec. 4

Credit facility

U.S.C.§ 1692

U.S.C.§ 9042

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