News & Analysis as of

Borrowers Investigations

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

Bradley Arant Boult Cummings LLP

A Tale of Two Crises: What 2008 Foreclosures Can Teach Us About Attorney General Enforcement Following COVID-19

Moratoriums on foreclosures due to COVID-19 ended this summer, prompting concerns of a shock similar to the 2008 housing crisis. While there are numerous differences between today and the previous recession, financial service...more

Fox Rothschild LLP

Paycheck Protection Program-Related Convictions Result In Harsh Federal Prison Sentences

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The U.S. Department of Justice took several victory laps this month, touting long prison sentences it has secured for COVID-19 related fraud. These prison terms send a clear message to any individual or business that...more

Harris Beach PLLC

Paycheck Protection Program – Common Questions and Updated Guidance

Harris Beach PLLC on

The Paycheck Protection Program has been seen as a lifeline for many businesses nationwide. Josh Steele, a partner in the Harris Beach Labor & Employment group and CARES Act team member has counseled clients throughout the...more

Harris Beach PLLC

SBA Issues Loan Necessity Questionnaires to PPP Recipients; Signals Next Step in Loan Compliance Investigations

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The U.S. Small Business Administration (SBA) has begun to issue loan necessity questionnaires to Payroll Protection Program (PPP) borrowers, adding clarity to the good faith certification they required with initial...more

Arnall Golden Gregory LLP

SBA’s New PPP Loan Necessity Questionnaires Target PPP Recipients with Loans of $2M

On October 31, 2020, the U.S. Small Business Administration (“SBA”) published a Notice in the Federal Register seeking approval from the Office of Management and Budget for the collection of information through, among other...more

K&L Gates LLP

COVID-19: PPP Loan Borrowers - Your Information May Now Be Public

K&L Gates LLP on

On 19 June 2020, in a major reversal of the U.S. Department of the Treasury’s (Treasury) previous position, the U.S. Small Business Administration (SBA) and Treasury announced that they will publicize additional data...more

Sheppard Mullin Richter & Hampton LLP

Tips for the Unwary: Precautions Against Liability for Healthcare Businesses Receiving CARES Act Funds

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided trillions in economic relief in response to the COVID-19 pandemic, including hundreds of billions of dollars in aid for the healthcare industry....more

Bass, Berry & Sims PLC

Update: Investigations Under the CARES Act Ramp Up Even as Oversight Roles Remain Vacant

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The recently passed Coronavirus Aid, Relief, and Economic Security Act (CARES Act) injected previously unthinkable amounts of stimulus funds into the struggling U.S. economy. To oversee the disbursement of these funds and to...more

Nossaman LLP

Successor Banks of FDIC assets Not so Jolly after Jolley - A New Duty to Investigate?

Nossaman LLP on

A recent California case appears to contradict the general rule holding that a successor bank that has acquired a commercial loan through an FDIC receivership may owe a duty to a commercial borrower to reasonably investigate...more

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