Bill gives banks more latitude for COVID funds

A bill seemingly headed toward law at the Tennessee General Assembly would give banks in Tennessee more latitude when it comes to handling the billions of dollars currently being processed by local governments via the American Rescue Plan.

The legislation differs from the politically controversial bills at the heart of this week’s special legislative session, called by lawmakers to crack down on private and public COVID-19 mandates. It also has the support of the business community, a typical ally of the Republicans who control the legislature, unlike some of the legislation currently being considered.