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COVID-19: Understanding the Borrower Certification Requirements under the Paycheck Protection Program

BACKGROUND - In order to obtain a Paycheck Protection Program (PPP) loan, Section 1102(G) of the Coronavirus Aid, Relief and Economic Security (CARES) Act, requires that an eligible recipient certify to the following four...more

COVID-19: Emergency Regulations Do Not Pass Constitutional Muster

Federal Judge Enjoins Enforcement of Massachusetts Attorney General’s Debt Collection Ban Under First Amendment - In response to the COVID-19 emergency, the Massachusetts Attorney General’s Office (“AGO”) issued a set of...more

COVID-19: The Massachusetts Attorney General’s Office Issues Emergency Regulations Significantly Limiting Debt Collection in...

The rapid spread of the Coronavirus Disease 2019 (“COVID-19”) has caused unprecedented disruptions to the U.S. economy, both at the state and national levels. On March 10, 2020, the Governor of Massachusetts declared a State...more

COVID-19: UPDATED Q&A for SBA Emergency Loans (Updated)

The following questions and answers are based on Title I to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, Pub.116-136, which was signed into law by President Trump on March 27, 2020, as supplemented by...more

COVID-19: Its Impact on Banking, Fintech, and Payments: FAQs

1. Q. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) implements the disbursement of $1,200 payments of COVID-19 stimulus funds to millions of Americans. How will the current payment system address the...more

COVID-19: Senate Includes SBA "Payroll Protection Package" Loan Relief to Small Businesses in CARES Act

On March 25, 2020, the U.S. Senate unanimously approved another major piece of legislation to address the economic and medical concerns arising from the coronavirus; the Coronavirus Aid, Relief, and Economic Security Act, or...more

COVID-19: UPDATED Q&A for SBA Emergency Loans

On March 22, 2020, Senate Majority Leader McConnell released a draft of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, which would amend the Small Business Act (15 U.S.C. Section 636(a)) (“SBA Act”) to...more

COVID-19: Q & A for Small Business Administration (SBA) Emergency Loans

On March 22, 2020, Senate Majority Leader McConnell released a draft of the Coronavirus Aid, Relief, and Economic Security Act, which would amend the Small Business Act to provide emergency loan relief to certain eligible...more

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