CDBA Letter to Department of the Treasury on Paycheck Protection Program Liquidity - April 3, 2020

CDBA CEO Jeannine Jacokes wrote to Secretary Steven Mnuchin of the U.S. Department of Treasury requesting additional consideration of the 1% interest rate introduced in the Interim Final Rule for the Small Business Administration's (SBA) Paycheck Protection Program (PPP), a new program authorized under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. CDBA members have expressed concern that PPP is insufficiently responsive to the need for bank liquidity, an essential consideration for CDBA members and all small- or mid-size banks rising to meet the rush of borrowers.

Friday, April 3, 2020
Press Release: