The chairman of the Senate Banking Committee is calling on federal agencies to extend economic relief measures that Congress established in March, as lawmakers and the Trump administration struggle to reach a deal on the next round of aid, Politico reported. In a letter to housing and bank regulators, Senate Banking Chair Mike Crapo (R-Idaho) urged the officials to use their existing authority to continue eviction protections and looser lending rules — in effect doing an end run around Congress. "Although there are already early, encouraging signs that the U.S. economy is beginning to heal, federal financial regulators must remain diligent, and continue to provide relief in light of a pandemic and economic conditions that continue to evolve," he said in the letter sent Friday. Crapo sent the letter to leaders of the Federal Reserve, Office of the Comptroller of the Currency, Federal Deposit Insurance Corp., National Credit Union Administration, Department of Housing and Urban Development and the Federal Housing Finance Agency. The nature of the request suggests that Crapo believes that lawmakers might not be able to address the measures in the near future. The letter gives the agencies additional cover to take matters into their own hands. Eviction protections that Congress passed in March expired on July 24.
