PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, October 28, 2020
October 28, 2020
FedACTion Task Force
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Click here to read more from our Coronavirus series.
Congress
Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.
Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.
Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.
Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services, and House Committee on Small Business.
U.S. House of Representatives
Committee on Financial Services
House Financial Services Announces November Hearing Schedule
October 27, 2020
The House Committee on Financial Services announced the following virtual hearings will occur during the month of November:
November 12 at 12:00 PM ET – The full Committee will convene for a virtual hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions during the Pandemic."
November 19 at 10:00 AM ET – The Subcommittee on Housing, Community Development and Insurance will convene for a virtual hearing entitled, “Insuring against a Pandemic: Challenges and Solutions for Policyholders and Insurers.”
All hearings will be livestreamed on https://financialservices.house.gov/live/.
International
Bank of England
How has COVID-19 Affected Small UK Companies?
October 27, 2020
The Bank of England released a Bank Overground post titled “How has COVID-19 Affected Small UK Companies?”. According to the post, the COVID-19 shock has had a bigger impact on smaller companies than larger companies. Fiscal policy has supported cash flows, but the outlook is uncertain and there could be an increase in insolvencies ahead.