Legislative Bill Tracking
The State Legislature remains adjourned, as it is not yet certain whether they will reconvene for a future legislative session before the end of the year with recent discussions indicating there is no plan to return. NYBA continues to be engaged with members of the legislature on a number of issues.
Given the ongoing negotiation regarding further federal action, NYBA has again contacted Senator Schumer and members of the NY Congressional delegation on the House Financial Services Committee urging them to consider an extension of certain provisions of the CARES Act that are set to expire, including provisions relating to Troubled Debt Restructurings (TDRs) and Current Expected Credit Losses (CECL) accounting principles. NYBA understands that greater flexibility in TDR designation, as well as a delay in CECL implementation, is absolutely paramount in order for banks in NYS to continue to be able to provide support to their customers and to help our communities thrive. NYBA will continue to advocate on behalf of its members on these issues.
For additional information on any of the State or Federal issues, please contact:
Michael P. Smith, President, NYBA, at (212) 297-1699
Clare M. Cusack, General Counsel & Chief Operating Officer, at (212) 297-1664
Megan Rowan McGovern, Deputy General Counsel & VP, Government Relations, at (212) 297-1669