HR 8675
Preventing Regulatory Penalties for PPP Lenders Act
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to prevent federal banking agencies from penalizing small financial institutions, like credit unions, for lending through the Paycheck Protection Program (PPP). It requires these agencies to exclude PPP loans from calculations used to determine capital ratios and deposit insurance premiums. The bill seeks to ease the regulatory burden on lenders who participated in the PPP program during the COVID-19 pandemic. Regulations must be issued within 30 days of the bill’s enactment to implement these changes.
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Primary sponsor
Cosponsors
A. Drew, IV Ferguson
Alexander X. Mooney
Bill Posey
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