ABSTRACT

Consolidated Appropriations Act, 2021 (P.L. 116-260): Emergency Capital Investment Program [January 5, 2021]   [open pdf - 643KB]

From the Document: "The Coronavirus Disease 2019 (COVID-19) pandemic has had devastating economic effects, including a significant increase in unemployment. Certain studies indicate that low- and moderate-income communities and minorities have borne this economic hardship to a disproportionately high degree, such as by being more likely to experience job loss and difficulty paying for necessities. Division N, Title V, Section 522, of Consolidated Appropriations Act, 2021 (P.L. 116-260), establishes the Emergency Capital Investment Program (ECIP) through which the Treasury Department can make capital investments in certain depositories (i.e., banks, savings associations, and credit unions). The purpose of the program is to increase the availability of credit, grants, and forbearances to groups disproportionately affected by the pandemic. The program shares certain similarities with previous Treasury capital investment programs."

Report Number:
CRS Insight, IN11565
Author:
Publisher:
Date:
2021-01-05
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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