Financial Services

Luetkemeyer: TDR, CECL Provisions to Aid in Continued Economic Healing

| Posted in Press Releases

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) released the following statement regarding the extension of two critical CARES Act provisions in today’s COVID-19 relief package. The bill includes a delay in the capital requirements of the Current Expected Credit Loss (CECL) accounting standard and the suspension of Troubled Debt Restructuring (TDR) classifications until January 1,... Read more »

Luetkemeyer Urges Extension of TDR Provision

| Posted in Press Releases

WASHINGTON, D.C. – On Friday, Congressman Blaine Luetkemeyer (MO-03) was joined by 35 colleagues in sending a letter urging Congressional leadership to extend the Troubled Debt Restructuring (TDR) provision included in the CARES Act. Currently set to expire on December 31, 2020, extending this provision will give financial institutions the ability to work with customers through this difficult econ... Read more »

Luetkemeyer on OCC’s Fair Access Rule

| Posted in Press Releases

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) released the following statement regarding an announcement from the Office of the Comptroller of the Currency (OCC) regarding their “Fair Access Rule.” “For years I have been fighting the harmful Obama-era initiative, ‘Operation Choke Point.’ Today’s announcement from the OCC gets America another step closer to putting it completely ... Read more »

Luetkemeyer Urges Chairs Waters and Schiff to Investigate Bidens

| Posted in Press Releases

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) was joined by eleven of his colleagues in sending a letter urging House Financial Services Chairwoman Maxine Waters and Permanent Select Committee on Intelligence Chairman Adam Schiff to investigate potential money laundering involving foreign governments and the Biden family. Excerpts and the link to the full letter can be found bel... Read more »

Luetkemeyer Statement on Regulators’ Guidance Announcement

| Posted in Press Releases

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) released the following statement on prudential regulators’ Notice of Proposed Rulemaking to codify the Interagency Statement Clarifying the Role of Supervisory Guidance issued by the agencies on September 11, 2018. “Prudential regulators are taking an important step toward ending the abuses and misuses of guidance that were rampant d... Read more »

Luetkemeyer Urges Treasury, SBA to Streamline the Loan Forgiveness Process for PPP Loans Up to $150,000

| Posted in Press Releases

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) led a letter signed by 60 of his colleagues urging the Treasury Department and Small Business Administration to implement a streamlined loan forgiveness process for all PPP loans up to $150,000. “Despite the overwhelming success of the PPP program, more can and should be done to help U.S. small businesses stay afloat during these unp... Read more »

Luetkemeyer on Treasury Department’s PPP Loan Forgiveness Announcement

| Posted in Press Releases

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) released the following statement regarding the Treasury Department’s announcement of a streamlined forgiveness process for Paycheck Protection Program (PPP) loans up to $50,000. “Under Secretary Mnuchin’s and Administrator Carranza’s leadership the PPP program has approved 5.2 million loans and helped preserve 51 million American job... Read more »

Luetkemeyer, Select Committee on the Coronavirus Hold Hearing with Fed Chair Jerome Powell

| Posted in Press Releases

WASHINGTON, D.C. – Today in a hearing in the Select Committee on the Coronavirus Crisis, Congressman Blaine Luetkemeyer (MO-03) discussed the economic effects of the pandemic on American businesses with Federal Reserve Chair Jerome Powell. Click HERE to watch. “It seems to be there’s a misunderstanding with how the economy works… For instance, I’ve got Boeing right in my district… One plane made i... Read more »

Luetkemeyer, Select Committee on the Coronavirus Hold Hearing with Treasury Secretary Mnuchin

| Posted in Press Releases

WASHINGTON, D.C. – Today in a hearing entitled “The Administration’s Response to the Economic Crisis” the Select Committee on the Coronavirus Crisis, Congressman Blaine Luetkemeyer (MO-03) discussed the economic effects of the coronavirus with Treasury Secretary Steven Mnuchin. Click HERE to watch. Congressman Luetkemeyer: “Mr. Secretary, you and I talk about this just about every time we meet. As... Read more »

Luetkemeyer Introduces Bill to Allow Financial Institutions Provide Flexibility and Forbearance to Customers

| Posted in Press Releases

WASHINGTON, D.C. – On Friday, Congressman Blaine Luetkemeyer (MO-03) introduced a bill that would help financial institutions provide flexibility and forbearance to their customers following the economic interruption caused by COVID-19. “The COVID-19 pandemic has created an uncertain economic climate for the entire country. It has become clear that as the shutdown has lingered across the country a... Read more »