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Financial Stimulus Financial Institutions

Wilson Sonsini Goodrich & Rosati

Increased Scrutiny in the U.S. and the UK on the Financial Activity of Russian Oligarchs

As the war in Ukraine rages on, recent advisories from financial crime agencies in the United States and the United Kingdom indicate heightened scrutiny on financial activity of Russian individuals and entities, including...more

McDermott Will & Emery

Congressional Investigations during the 117th Congress: What to Expect

McDermott Will & Emery on

Although control and leadership of the US House of Representatives did not change hands as a result of the 2020 elections, President Joe Biden’s victory and the Democrats’ Senate runoff victories in Georgia are already having...more

Alston & Bird

CFPB Issues Statement Encouraging Financial Institutions and Debt Collectors to Allow Stimulus Payments to Reach Consumers;...

Alston & Bird on

A&B ABstract: Without additional guidance, the recent statement from the Consumer Financial Protection Bureau (CFPB) about stimulus funds may create consumer confusion....more

Akerman LLP

CFPB Encourages Financial Institutions And Debt Collectors To Permit Stimulus Payments To Reach Consumers

Akerman LLP on

The Consumer Financial Protection Bureau this week urged financial institutions and debt collectors to allow federal stimulus payments to reach consumers. Although the CFPB did not issue any new requirements or specific...more

Robinson+Cole Data Privacy + Security Insider

FinCEN Alerts Banks to Pandemic Relief Payment Fraud

The Financial Crimes Enforcement Network (FinCEN) recently issued an advisory to banks that outlined fourteen red flag indicators to be on the lookout for (and report) related to pandemic related economic relief payments....more

Sheppard Mullin Richter & Hampton LLP

Day 2 Notes for the 39th Annual J.P Morgan Healthcare Conference, 2021

It’s Day 2 of the J.P. Morgan Annual Healthcare Conference at its finest – looking closely at healthcare inequities, strategic business shifts and killer robots, all in the same day! (Yes, we did say killer robots and it’s...more

WilmerHale

COVID-19: Federal Regulators Provide Limited AML Relief in Coronavirus Response, and Limited Support for the Use of Technology in...

WilmerHale on

In this alert, we summarize recent guidance from federal regulators and self-regulatory organizations - including the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), the Office of...more

Carlton Fields

Economic Impact Payments Authorized by the CARES Act Are Not Exempt From Garnishment in Florida

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Millions of Americans have already received their “economic impact payment” under the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27, 2020....more

Goodwin

Financial Services Weekly Roundup: April (Liquidity) Showers Bring May Borrower Protection

Goodwin on

In this Issue: Senate Votes to Expand Paycheck Protection Program; FHFA (Finally) Addresses Liquidity Concerns for Mortgage Servicers. Yesterday, the U.S. Senate unanimously passed legislation providing $484 billion in...more

Winstead PC

Can Lenders Impose Eligibility Requirements For Payroll Protection Program Loans? Maryland Court Says Yes

Winstead PC on

Following Congress’s creation of the Payroll Protection Program (PPP), many participating financial institutions have implemented eligibility requirements for loan applicants, and are prioritizing their own customers’...more

Goodwin

Financial Services Weekly Roundup: Priming The Pump – Additional Actions To Combat COVID-19

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Priming the Pump. As the COVID-19 outbreak continues, the Board of Governors of the Federal Reserve System (Federal Reserve), consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), took additional...more

Davis Wright Tremaine LLP

The SBA COVID-19 Response: Lenders Needed (Updated)

Update April 3: The Small Business Administration (SBA) issued an Interim Final Rule (IFR) earlier today implementing the Paycheck Protection Program (PPP). The IFR has a 30 day comment period (from the date of publication in...more

Ballard Spahr LLP

CARES Act includes provisions affecting financial institutions and their regulation: some key provisions

Ballard Spahr LLP on

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions...more

Miller Canfield

CARES Act: Coronavirus Economic Stabilization Act (CESA) of 2020

Miller Canfield on

On March 27, 2020, Congress passed and President Donald Trump signed into law the $2.2 trillion "Coronavirus Aid, Relief, and Economic Security Act" (CARES Act) legislation aimed to provide economic relief from coronavirus...more

Alston & Bird

How the CARES Act Will Affect Banking During the Coronavirus Emergency

Alston & Bird on

The Coronavirus Aid, Relief, and Economic Security (CARES) Act sprawls across 800 pages. Our Financial Services & Products Group delves into the sections that deal specifically with banking and lending....more

Nelson Mullins Riley & Scarborough LLP

CARES Act Relevant Provision Summaries for Banking Industry Clients

The COVID-19 related stimulus bill (Coronavirus Aid, Relief, and Economic Security Act or CARES Act) provides relief to the banking industry directly. The CARES Act authorizes guarantees of bank-issued debt and...more

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