The new-issue pipeline of prime auto loans remains open despite the gloomy forecasts for pandemic-related stresses on auto sales and consumer unemployment levels.

The Senate Banking Committee chair will work with the heads of other panels in overseeing the $2 trillion stimulus package that Congress passed last month.

The head of the Senate panel overseeing Federal Reserve and Treasury Department efforts to boost the U.S. economy urged the agencies to remember their disclosure requirements.

"We've proven we can operate with no footprint," said James Gorman, Morgan Stanley's CEO. "Can I see a future where part of every week, certainly part of every month, a lot of our employees will be at home? Absolutely."

The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.

Legislation announced Wednesday would allow credit unions to make coronavirus relief loans to businesses without fear of bumping up against the member business lending cap.

The letter written by Rep. Maxine Waters, D-Calif., and Sen. Sherrod Brown, D-Ohio, was seen as a boost to Wall Street lobbying efforts seeking to quell the fallout of the coronavirus crisis on the mortgage market.

The agency is still moving forward on key regulations dealing with payday lending and mortgage underwriting despite new demands posed by the crisis.