,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #giac  ,,in ,,the ,,house ,,of  
,,representatives  ,july #ca1 #bjbj ,mr4
 ,luetkemeyer introduced the following  
bill2 which was referred to the         
,committee on ,financial ,services  ,a  
,,bill  ,to amend the ,,cares ,act to   
improve the temporary relief from       
troubled debt restructurings1 and for   
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,financial     
,institution ,forbearance ,act4  #b4    
,temporary relief from troubled debt    
restructurings  7a7 ,definitions        
,section #djac7;a7 of the ,,cares ,act  
7#ae ,u4,s4,c4 #ijea7;a77 is amended--  
7#a7 in paragraph 7#a71 by striking the 
earlier of ,december #ca1 #bjbj1 or the 
date that is #fj days after the date on 
which the national emergency concerning 
the novel coronavirus disease           
7,,covid-#ai7 outbreak declared by the  
,president on ,march #ac1 #bjbj under   
the ,national ,emergencies ,act 7#ej    
,u4,s4,c4 #afja et seq47 terminates and 

inserting ,march #a1 #bjba2 and  7#b7 by
 adding at the end the following3  7#c7 
,depository institution ,the term       
depository institution-- 7,a7 has the   
meaning given the term in section #c of 
the ,federal ,deposit ,insurance ,act2  
and  7,b7 means a ,state or ,federal    
credit union1 as such terms are defined1
 respectively1 under section #aja of the
 ,federal ,credit ,union ,act4  7#d7    
,financial institution ,the term        
financial institution means--  7,a7 a   
depository institution2  7,b7 a lender  
that is not a depository institution2   
and  7,c7 an insurer4  4  7b7           
,applicability ,section                 
#djac7;b77#b77;,a7 of the ,,cares ,act  
7#ae ,u4,s4,c4 #ijea7;b77#b77;,a77 is   
amended by striking ,december #ca1 #bjai
 and inserting ,march #a1 #bjbj4  7c7   
,treatment by regulators ,section #djac 
of the ,,cares ,act 7#ae ,u4,s4,c4      
#ijea7 is amended-- 7#a7 in subsection  
7c71 by striking financial institution  
each place such term appears and        

inserting depository institution2 and   
7#b7 by adding at the end the following3
  7e7 ,treatment by regulators  7#a7 ,in
 general ,with respect to any loan for  
which an election has been made by a    
depository institution under subsection 
7b71 the appropriate ,federal banking   
agency--  7,a7 at the election of the   
depository institution1 shall not       
require the depository institution to   
classify such loan as impaired for      
credit risk until ,april #a1 #bjbb2 and 
7,b7 at the election of the depository  
institution1 shall1 until ,april #a1    
#bjbb1 for the purpose of calculating   
reserves and capital1 and for any other 
accounting purpose1 allow a depository  
institution to treat such loan in the   
same manner as the loan was 7or would   
have been7 treated on ,december #ca1    
#bjai4  7#b7 ,limitation  7,a7 ,in      
general ,paragraph 7#a7 shall not apply 
to a depository institution if the      
appropriate ,federal banking agency     
determines that-- 7i7 the depository    

institution was not well capitalized as 
of ,december #ca1 #bjai2  7ii7 applying 
paragraph 7#a7 to the depository        
institution would pose a direct risk to 
the ,deposit ,insurance ,fund or the    
,national ,credit ,union ,share         
,insurance ,fund2 or  7iii7 there is    
reasonable cause to believe that the    
depository institution or an            
institution-affiliated party is         
violating1 or is about to violate1 a    
,federal statute or rule4  7,b7 ,cease  
and desist letter requirement ,before   
the appropriate ,federal banking agency 
may make a determination under clause   
7ii7 or 7iii7 of subparagraph 7,a71 the 
appropriate ,federal banking agency     
shall issue a cease and desist order to 
the depository institution and comply   
with the process required under section 
#h7;b7 of the ,federal ,deposit         
,insurance ,act 7#ab ,u4,s4,c4 #ahah7   
with respect to a cease and desist      
order4  4  7d7 ,balance sheet treatment 
of loans ,section #djac of the ,,cares  

,act 7#ae ,u4,s4,c4 #ijea71 as amended  
by subsection 7c71 is further amended by
 adding at the end the following3  7f7  
,balance sheet treatment of loans ,for  
purposes of a financial institution's   
balance sheet1 the financial institution
 shall place all loans for which an     
election has been made under subsection 
7b7 into a separate account4  4