State Sign on Letter: PPP Reform

Call to Action: Paycheck Protection Program Reform

The Independent Community Bankers of South Dakota, alongside the Independent Community Bankers of America, sent a letters to Capitol Hill on May 27, 2020 calling for reform within the Paycheck Protection Program. A snippet of the letter states, “The long-awaited forgiveness guidance released by Treasury last Friday evening was more than a source of disappointment and frustration for lenders and borrowers alike. It opens up a new source of liability risk for community bankers who have acted in good faith. With this in mind, I urge you to consider community bankers’ recommendations for amending and strengthening the program so that it can more effectively achieve its goal.” For a complete list of recommendations and amendments, we encourage you to read the full letter by clicking the button below.