ICBA called on Congress to enact pandemic relief legislation before the close of the 116th Congress. In a letter to congressional leaders, ICBA said any package should:
- Simplify Paycheck Protection Program loan forgiveness.
- Fully forgive Economic Injury Disaster Loan advances.
- Exclude PPP loans from regulatory asset thresholds.
- Extend bank capital and accounting relief, including extending TDR relief.
- Reform PPP terms for any new round of lending.
ICBA continues calling on community bankers to use its Be Heard action center to urge Congress to pass these reforms during the lame-duck session.