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Daily Financial Regulation Update -- Monday, August 3, 2020
August 03, 2020
By FedACTion Task Force
PH FedACTion: Financial Regulatory Updates
PH Client Alerts
Click here to read more from our Coronavirus series.
Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.
Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.
Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.
Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services, and House Committee on Small Business.
Committee on Banking, Housing, and Urban Affairs
Crapo Recommends Extension, Expansion of COVID-19 Relief
July 31, 2020
U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent two letters to financial agencies and regulators urging the extension and expansion of existing provisions key to providing relief and economic stability.
first letter encourages the Board of Governors of the Federal Reserve System and the U.S. Department of the Treasury to quickly expand the Main Street Lending Program by setting up an asset-based lending program and commercial real estate program.
second letter recommends that the federal financial regulators use their existing authority to extend relief provided under certain CARES Act provisions.