A Federal Reserve Board interim final rule modifying the Paycheck Protection Program under the Small Business Act was published in the Federal Register.
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The Federal Reserve Board modified the Paycheck Protection Program to allow bank executive officers, directors and principal shareholders to apply for loans on behalf of small businesses they own.
The House Financial Services Committee considered measures to increase diversity in regulated institutions.
Comptroller of the Currency Joseph Otting reported that the federal banking system is strong, but risks remain.
The Office of the Comptroller of the Currency updated the following booklets of the Comptroller's Handbook: "Bank Premises and Equipment," "Consigned Items and Other Customer Services," and "Litigation and Other Legal Matters."