Newsletters

04.10.20

Regulators Facilitate Favorable Capital Treatment For Banks Participating in the PPP

In the federal government’s ongoing effort to facilitate participation by depository institutions in its signature Paycheck Protection Program (PPP), on April 9, 2020, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Federal Reserve Board (FRB) ...


04.04.20

An Updated Practical Guide for Small Businesses to Obtain a Paycheck Protection Loan Under CARES Act

On April 2, 2020 and April 4, 2020, the Small Business Administration (SBA) issued unusual interim final rules (the Rules) providing further detail regarding Paycheck Protection Program loans under the CARES Act. The Rules will take effect immediately upon publication in the Federal ...


04.03.20

SBA Issues Interim Final Rule for Paycheck Protection Loans

On April 2, 2020, the Small Business Administration (SBA) issued an unusual interim final rule (the Rule) providing further detail regarding Paycheck Protection Program loans (PPP Loans) authorized under the CARES Act.


03.31.20

New Small Business Administration Paycheck Protection Program Information

The Treasury Department released additional information today regarding the Paycheck Protection Program that has been authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).


03.30.20

Congressional Action—Lending Programs and Relief Provisions Under the CARES Act

On March 27, 2020, President Donald Trump signed into law the CARES Act, an approximately $2 trillion stimulus package to mitigate the adverse economic effects of the COVID-19 pandemic.


03.25.20

Feds, States Offer Guidance on Loan Modifications

Aiming to encourage financial institutions to accommodate borrowers affected by COVID-19, federal and state regulators issued an interagency statement on loan modifications.


03.19.20

Financial Institution Regulators Promulgate Extensive Guidance on COVID-19

While the government currently responds to the changing landscape posed by the COVID-19 virus, federal financial institution regulators are moving quickly to address multiple areas of concern posed by these unprecedented developments.


03.13.20

Public Company Considerations During the Coronavirus Outbreak

In December 2019, COVID-19, a strain of coronavirus, emerged in Wuhan, China.


03.11.20

Federal Reserve Board Takes Control

Following years of uncodified interpretive guidance, the Board of Governors of the Federal Reserve System adopted a final rule addressing the issue of how to determine whether one company has “control” over another company for purposes of the Bank Holding Company Act and the Home ...


03.11.20

FDIC Offers De Novo Guidance for Nontraditional Applicants

In an attempt to help non-banks and fintechs understand the de novo application process, the Federal Deposit Insurance Corporation (FDIC) released new materials, including a supplement to its Deposit Insurance Application Procedures Manual (the Supplement) that describes special considerations and ...