Also: New bill would exclude PPP loans from some asset calculations; NCUA meets Wednesday on supervisory guidance
NAFCU TODAY | The News You Need Daily.
October 26, 2020
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This week: Relief negotiations continue ahead of election [ [link removed] ]
While House members remain in their home districts ahead of next week's election, the Senate today is expected to vote on the Supreme Court nomination of Amy Coney Barrett. In addition, House Speaker Nancy Pelosi, D-Calif., continues to negotiate with Treasury Secretary Steven Mnuchin on a possible Phase 4 coronavirus relief package, though it is unlikely legislation will be passed before the election.
Legislation introduced to exclude PPP loans from asset calculations [ [link removed] ]
House Financial Services Committee Member Barry Loudermilk, R-Ga., last week introduced legislation to require federal banking agencies – including the NCUA – to exclude paycheck protection program (PPP) loans from certain asset calculations.
NCUA to hold emergency meeting on proposed interagency rule [ [link removed] ]
The NCUA Board is set to hold a special meeting this Wednesday to consider a proposed interagency rule on the role of supervisory guidance. During its October meeting, the board voted to remove a request for information on the agency's supervisory guidance and communication improvements from the agenda.
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