NAWLA - July 2020

July 31, 2020
AN UPDATE FROM NAW GOVERNMENT RELATIONS TEAM - 7.31

As of today, there are no new updates regarding the Paycheck Protection Program or the Main Street Lending Program. We will continue to monitor any new developments and send you critical updates as they occur.

Last evening the Senate Republicans released a series of bills covering a broad range of issues that they will now combine into the Health; Economic Assistance; Liability Protection; and Schools – HEALS – Act.

It was anticipated earlier this week that Senate Republicans would release their proposal for another COVID response bill by the end of the week. However, yesterday afternoon Senate Majority Leader Mitch McConnell announced that the legislative proposal would not be released

As of today, there are no new updates regarding the Paycheck Protection Program or the Main Street Lending Program. We will continue to monitor any new developments and send you critical updates as they occur.

Last Friday, House Small Business Committee Chair Nydia Velazquez (D-NY) conducted an oversight hearing on the SBA and Treasury Department pandemic response programs. Both SBA Administrator Carranza and Treasury Secretary Mnuchin testified at the hearing. Typical of

Yesterday, the Wall Street Journal reported that disagreements between leaders at the Federal Reserve and Treasury Department in recent months slowed the start of the Main Street Lending Program.

The disagreements over relatively narrow design issues refl

This morning, the Boston Fed issued a press release announcing that “the Main Street Lending Program is Fully Operational” and encouraged lenders “to begin submitting qualifying loans.”

Eric Rosengren, President of the Boston Federal Reserve Bank, said in

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