Pryor Cashman helped to author the development of a letter from the New York League of Independent Bankers (NYLIB)to sitting members of Congress, the prudential banking agencies, and the Financial Standards Accounting Board regarding concerns of ongoing anticipated hardships due to COVID-19. While legislation has been passed to support community banks across the United States, there is evidence to support ongoing financial strife barring additional relief.
In the letter, NYLIB makes a few recommendations, including the congressional extension of specific allowances to lighten the burden of this historic pandemic on the nation's economics.
Read the letter in full here.
Originally published 07 July, 2020
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