ICBA's push for policymakers to address the impact of Paycheck Protection Program loans on regulatory asset thresholds continued making headway with a new letter to regulators from House Republicans.
The letter from 14 lawmakers led by Rep. Barry Loudermilk (R-Ga.) urges regulators to exclude PPP loan balances from bank and bank holding company thresholds to mitigate unintended regulatory burdens stemming from PPP lending.
FDIC Chairman Jelena McWilliams recently told ICBA the agency appreciates this concern and is considering targeted adjustments to address the issue. ICBA has raised the issue with Congress and separately asked the agencies to quickly amend PPP regulations, which they are authorized to do.
