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Financial Services Law Insights and Observations

Louisiana Office of Financial Institutions extends relief provided to state-chartered financial institutions

State Issues Covid-19 Louisiana Bank Charter Federal Reserve System SBA

State Issues

On July 24, the Louisiana Office of Financial Institutions issued an emergency declaration continuing relief previously provided to Louisiana-chartered financial institutions, as provided in an earlier declaration previously covered here. Among other things, the declaration extends parity granted to loans made under the Main Street Lending Program established by the Federal Reserve System and loans made under the Small Business Administration's Paycheck Protection Program. The declaration also extends relief relating to temporary branch office closures, relocations, reduced operations, and annual meetings.

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