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ph fedaction financial regulatory updates

Daily Financial Regulation Update -- Wednesday, October 28, 2020

October 28, 2020

By FedACTion Task Force

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Congress

to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.

to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.

to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.

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.

U.S. House of Representatives

Committee on Financial Services

House Financial Services Announces November Hearing Schedule

October 27, 2020

The House Committee on Financial Services announced the following virtual hearings will occur during the month of November:

  • November 12 at 12:00 PM ET – The full Committee will convene for a virtual hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions during the Pandemic."

  • November 19 at 10:00 AM ET – The Subcommittee on Housing, Community Development and Insurance will convene for a virtual hearing entitled, “Insuring against a Pandemic: Challenges and Solutions for Policyholders and Insurers.”

All hearings will be livestreamed on 

.

International

Bank of England

How has COVID-19 Affected Small UK Companies?

October 27, 2020

The Bank of England released a Bank Overground post titled “How has COVID-19 Affected Small UK Companies?”. According to the post, the COVID-19 shock has had a bigger impact on smaller companies than larger companies. Fiscal policy has supported cash flows, but the outlook is uncertain and there could be an increase in insolvencies ahead.