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July 20, 2020
AN UPDATE FROM NAW GOVERNMENT RELATIONS TEAM - 7.20

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

July 16, 2020
AN UPDATE FROM NAW GOVERNMENT RELATIONS TEAM - 7.16

While we’ve seen no reports on how active banks and the Fed have been now that the MSLP is operational, the Boston Fed yesterday released a new set of FAQ’s on the program. The new FAQ’s include changes made by SBA to the definition of ineligible businesses in relation to PPP,

July 14, 2020
AN UPDATE FROM NAW GOVERNMENT RELATIONS TEAM - 7.14

According to an article in Bloomberg, Senate Republicans are on track to finish their own plan for a new round of pandemic relief as early as next week and only then will open negotiations with Democrats as the last stimulus begins running dry

July 13, 2020
AN UPDATE FROM NAW GOVERNMENT RELATIONS TEAM - 7.13

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

July 08, 2020
AN UPDATE FROM NAW GOVERNMENT RELATIONS TEAM - 7.8

As we reported on Monday, the Boston Fed announced that the Main Street Lending Program is now operational and that they would soon release a list of participating lenders. This morning the promised list of lenders has been released: their website provides a searchable-by-state database of

July 07, 2020
AN UPDATE FROM NAW GOVERNMENT RELATIONS TEAM - 7.6

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

July 05, 2020
AN UPDATE FROM NAW GOVERNMENT RELATIONS TEAM - 7.2

According to a story in the Wall Street Journal, it’s been more than two months since the MSLP was announced, however, some bankers say they are still trying to decide whether to take part. They cite less-than-appealing terms, which changed repeatedly before the official June 15 launch,