The FDIC told a group of House Republicans that it is exploring options to address the impact of Paycheck Protection Program loans on bank and bank holding company asset thresholds.
FDIC to Congress: We're working on PPP asset-threshold impact
October 05, 2020 / By ICBA
The FDIC told a group of House Republicans that it is exploring options to address the impact of Paycheck Protection Program loans on bank and bank holding company asset thresholds.
The FDIC told a group of House Republicans that it is exploring options to address the impact of Paycheck Protection Program loans on bank and bank holding company asset thresholds.
Responding to a letter from 14 lawmakers led by Rep. Barry Loudermilk (R-Ga.) urging regulators to exclude PPP loan balances from regulatory thresholds, FDIC Chairman Jelena McWilliams acknowledged the concern.
In a recent letter to ICBA, McWilliams said the agency is considering targeted adjustments to address the issue. ICBA first raised the concern in messages to Congress and regulators, noting the agencies are authorized to quickly amend PPP regulations.
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