AmBA Calls for Extension of CARES Act Relief
November 18, 2020
AmBA yesterday urged lawmakers to consider extending several banking-related CARES Act provisions that are set to expire at year-end. These include temporary relief from troubled debt restructurings, optional temporary relief from CECL implementation, a temporary lending limit waiver and temporary regulatory capital relief for community banks.
“Banks of all sizes will continue to support their communities as the recovery continues, and we hope your committees can assist by providing additional tools,” ABA wrote. “Although several other committees are also considering issues important to the customers and communities served by America’s banks, extension of these key, temporary changes is critical to empower banks to continue to assist those in need.” Read the letter.