S. 2824: A bill to establish a small dollar loan-loss guarantee fund, and for other purposes.
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S. 2824: A bill to establish a small dollar loan-loss guarantee fund, and for other purposes.
111th Congress · introduced 2009-12-02 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
federal
Follow this bill, step by step
- Where it came from: introduced 2009-12-02 · official record
- Who proposed it: Sen. Kohl, Herb [D-WI] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
A bill to establish a small dollar loan-loss guarantee fund, and for other purposes.
Plain summary
Amends the Community Development Banking and Financial Institutions Act of 1994 to establish the Community Development Financial Institutions (CDFI) Small Dollar Loan-Loss Guarantee Fund to defray the cost of losses on specified qualifying consumer loans (not exceeding $2500) made by certain CDFIs and institutions whose primary mission is to serve low- to moderate-income individuals. Authorizes appropriations to implement the program and to provide technical assistance grants to applicants to develop and support a small dollar loan program. Authorizes the Administrator of the CFDI Fund to borrow from the Treasury as necessary to maintain Fund solvency.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
A bill to establish a small dollar loan-loss guarantee fund, and for other purposes.
Source: Congressional Research Service summary (Introduced in Senate)
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The strongest published arguments
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Kohl, Herb [D-WI] · 3 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Richard J. Durbin (D-IL)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (2)
- Appropriation
- Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s2824.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>
Record fed-us-cong111-s2824 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111