SUDDENLY, THE FEDERAL GOVERNMENT IS MOVING VERY FAST. I WAS JUST BLOGGING ABOUT THIS THE OTHER DAY, AND NOW: Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus. Including this on the exact item I was blogging about: “Will not criticize institutions for prudent loan modifications and will not direct supervised institutions to automatically categorize COVID-19-related loan modifications as troubled debt restructurings (TDRs).”

UPDATE: From the comments: “It’s pretty amazing how quickly these issues are being addressed. If the Executive can fix it, it gets fixed. If industry can help, the right person gets a call. If Congress is required…well, Nancy and Chuck are still weighing the optics of saving Americans vs cooperating with OrangeManBad.”