Last week we reported that the Government Accountability Office (“GAO”) issued an opinion that the Leveraged Lending Guidance (“LLG”) was a “rule” subject to the Congressional Review Act (“CRA”) and explained how that ruling could have profound implications for the loan market.
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The Congressional Review Act and the Leveraged Lending Guidance Questions and Answers
On March 31, 2017, Senator Pat Toomey (R-Pa.) sent a letter to the Comptroller General of the U.S. General Accounting Office (GAO) asking whether the Interagency Guidance on Leveraged Lending constitutes a “rule” for purposes of the Congressional Review Act (CRA). The CRA applies to agency “rules” (as defined in the CRA) and provides an […]
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.
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