WASHINGTON, D.C. – Today in a hearing entitled “The Administration’s Response to the Economic Crisis” the Select Committee on the Coronavirus Crisis, Congressman Blaine Luetkemeyer (MO-03) discussed the economic effects of the coronavirus with Treasury Secretary Steven Mnuchin.

Click HERE to watch. 

Congressman Luetkemeyer: “Mr. Secretary, you and I talk about this just about every time we meet. As you know, CECL is one of the hot button issues for me…. I’ve got a bill to try and get rid of it altogether…"

Secretary Mnuchin: “We would be supportive of that.”

Congressman Luetkemeyer: “The other thing I want to talk about with regard to regulation is the Troubled Debt Restructuring Rule. As you know… in the CARES Act we suspended that rule for a period of time here and I think it’s going to continue to be important that we allow forbearance from the regulators to the banks and credit unions to be able to give forbearance to customers to be able to get our economy back on track.”

Secretary Mnuchin: “Yes, I agree with you on that as well.”