On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act or CARES Act (the “Act”). Subtitle A of Title IV of the Act, the “Coronavirus Economic Stabilization Act of 2020, creates...more
4/1/2020
/ Aviation Industry ,
Business Closures ,
Business Interruption ,
Business Losses ,
Business Taxes ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Federal Reserve ,
Financial Services Industry ,
Financial Stimulus ,
Lenders ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
On October 16, 2019, the Financial Accounting Standards Board (“FASB”) extended the implementation deadline for the current expected credit loss standard (“CECL”) for qualifying entities. The new implementation deadlines are...more
On September 17, 2019, the Securities and Exchange Commission (the “SEC”) proposed rules that would update the statistical disclosures currently required by Industry Guide 3, Statistical Disclosure by Bank Holding Companies...more
9/24/2019
/ Bank Holding Company ,
Banking Sector ,
Banks ,
Comment Period ,
Disclosure Requirements ,
Financial Reporting ,
Investors ,
Loans ,
Proposed Rules ,
Public Comment ,
Regulation S-K ,
Savings and Loan Companies ,
Securities and Exchange Commission (SEC)
On June 5, 2019, Illinois Governor J.B. Pritzker signed a $40 billion state budget bill into law. Among the various provisions included in the over 300 page budget is a provision providing for the phase-out of Illinois’...more
On Saturday, June 1, 2019, The Illinois General Assembly passed a bill (the “Diversity Disclosure Bill”) requiring most publicly held companies organized or headquartered in Illinois to include detailed demographic diversity...more