I 
116TH CONGRESS 
2D SESSION 
H. R. 8675 
To require the Federal banking agencies to exclude Paycheck Protection 
Program loans from certain asset calculations. 
IN THE HOUSE OF REPRESENTATIVES 
OCTOBER 23, 2020 
Mr. LOUDERMILK (for himself, Mr. DAVID SCOTT of Georgia, Mr. LUCAS, Mr. 
STIVERS, Mr. WILLIAMS, Mr. BUDD, Mr. KUSTOFF of Tennessee, Mr. 
HOLLINGSWORTH, Mr. JOHN W. ROSE of Tennessee, Mr. RIGGLEMAN, 
and Mr. TAYLOR) introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To require the Federal banking agencies to exclude Paycheck 
Protection Program loans from certain asset calculations. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Preventing Regulatory 
Penalties for PPP Lenders Act’’. 
VerDate Sep 11 2014 
22:32 Nov 07, 2020
Jkt 019200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H8675.IH
H8675
pamtmann on DSKBC07HB2PROD with BILLS
SEC. 2. EXCLUDING PAYCHECK PROTECTION PROGRAM 
LOANS 
FROM 
CERTAIN 
ASSET 
CALCULA-
TIONS. 
(a) IN GENERAL.—For purposes of determining cap-
ital ratios, deposit insurance premiums, and other asset 
thresholds and categories under Federal banking regula-
tions with respect to a credit union, depository institution, 
or depository institution holding company with less than 
$15,000,000,000 in consolidated assets, the appropriate 
Federal banking agency shall exclude Paycheck Protection 
Program loans. 
(b) SPECIFIC EXCLUSION.—Subsection (a) shall not 
apply to call reports filed by a credit union, depository 
institution, or depository institution holding company. 
(c) RULEMAKING.—Not later than the end of the 30- 
day period beginning on the date of enactment of this Act, 
the Federal banking agencies shall issue regulations to 
carry out this section. 
(d) DEFINITIONS.—In this section: 
(1) APPROPRIATE
FEDERAL
BANKING
AGEN-
CY.—The term ‘‘appropriate Federal banking agen-
cy’’— 
(A) has the meaning given such term 
under section 3 of the Federal Deposit Insur-
ance Act; 
VerDate Sep 11 2014 
22:32 Nov 07, 2020
Jkt 019200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H8675.IH
H8675
pamtmann on DSKBC07HB2PROD with BILLS
(B) means the National Credit Union Ad-
ministration, in the case of a credit union; and 
(C) means the Bureau of Consumer Finan-
cial Protection, for purposes of calculating asset 
thresholds under section 1025 and 1026 of the 
Consumer Financial Protection Act of 2010 (12 
U.S.C. 5515 and 5516). 
(2) CREDIT UNION.—The term ‘‘credit union’’ 
means a State credit union and a Federal credit 
union, as such terms are defined, respectively, under 
section 101 of the Federal Credit Union Act. 
(3) FEDERAL BANKING AGENCIES.—The term 
‘‘Federal banking agencies’’ means the agencies de-
scribed under paragraph (1). 
(4) 
FEDERAL
DEPOSIT
INSURANCE
ACT 
TERMS.—The term ‘‘depository institution’’, and 
‘‘depository institution holding company’’ have the 
meaning given those terms, respectively, under sec-
tion 3 of the Federal Deposit Insurance Act. 
(5) PAYCHECK PROTECTION PROGRAM LOAN.— 
The term ‘‘Paycheck Protection Program loan’’ 
means a loan guaranteed under section 7(a)(36) of 
the Small Business Act. 
Æ 
VerDate Sep 11 2014 
22:32 Nov 07, 2020
Jkt 019200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6301
E:\BILLS\H8675.IH
H8675
pamtmann on DSKBC07HB2PROD with BILLS