American Recovery and Reinvestment Act of 2009: Implications for Financial Institutions


On February 17, 2009, President Obama signed the history-making American Recovery and Reinvestment Act of 2009 (the “Act”). Designed to put the nation, and the world, on the road to economic recovery, the Act contains over one thousand pages of appropriations for existing and new programs. It also contains new requirements for utilizing these programs. Many sections of the Act require rulemaking and, in some cases, the establishment and staffing of new sub-agencies. Therefore, it may be some time before we know just how the programs will be implemented and the exact extent of the restrictions and requirements that may apply to them. In the meantime, what follows is a high-level summary of those sections of the Act that should be of the most interest to financial institutions.


Lane Powell has launched an interdisciplinary team comprised of attorneys from a wide range of practice areas to assist our clients in identifying key opportunities and challenges presented by the American Recovery and Reinvestment Act of 2009 and related administrative policies. Please visit our website ( to read additional legal updates prepared by members of Lane Powell's Economic Stimulus task force.

For more information, please contact the Financial Institutions Law Industry Team at Lane Powell:

206.223.7000 Seattle

503.778.2100 Portland

360.754.6001 Olympia

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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