News & Analysis as of

Liability Paycheck Protection Program (PPP)

Buchalter

PPP Lender Liability, Enforcement, & Fintech Challenges

Buchalter on

The Paycheck Protection Program (“PPP”) emerged as a lifeline for small businesses grappling with the unprecedented challenges of the COVID-19 pandemic. Lenders navigated a landscape of regulations that Congress quickly...more

Tucker Arensberg, P.C.

A Missed Opportunity for Immunity

Tucker Arensberg, P.C. on

The new pandemic aid legislation was eight months in the making, includes 5,600 pages, and $2.3 trillion in aid and spending. With national unemployment at a record high, and moratoriums on evictions, and utility shutoff...more

Baker Donelson

Liability Protection Provisions in the New Republican COVID Relief Package

Baker Donelson on

Throughout the summer, Senate Majority Leader McConnell has emphasized that any additional COVID relief package would include COVID-related liability protections. While negotiations on an additional COVID package between the...more

Saul Ewing LLP

Liability Dangers for Recipients of CARES Act Funds: Lessons From Past and Present Enforcement Actions

Saul Ewing LLP on

As the country struggles with COVID-19, many companies have applied for and received funds under the CARES Act and its Payment Protection Program (“PPP”). Those companies must understand there are significant risks tied to...more

PilieroMazza PLLC

False Claims Act Implications for PPP and Disaster Relief Loans: What Small Businesses Should Be Ready For

PilieroMazza PLLC on

With its chaotic rollout, conflicting regulations, and breakneck disbursements, the Paycheck Protection Program (PPP) is primed to create a wave of litigation. This includes actions taken under the False Claims Act (FCA),...more

PilieroMazza PLLC

[Webinar] False Claims Act Implications for PPP and Disaster Relief Loans: What Small Businesses Should Be Ready For - July 29th,...

PilieroMazza PLLC on

With its chaotic rollout, conflicting regulations, and breakneck disbursements, the Paycheck Protection Program (PPP) is primed to create a wave of litigation. This includes actions taken under the False Claims Act (FCA),...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

King & Spalding

The Small Business Administration Publishes PPP Interim Final Rule Providing Details about Lender Responsibilities and Potential...

King & Spalding on

The Small Business Administration (SBA) published yet another Interim Final Rule on June 1, 2020 addressing various aspects of Paycheck Protection Program (PPP) loans. The June 1 rule provides additional detail about the...more

Bradley Arant Boult Cummings LLP

Lender Liability and False Claims Act Issues Under the Paycheck Protection Program

Among the most significant aspects of the CARES Act is the $660 billion small business forgivable loan program known as the Paycheck Protection Program (PPP), and it was perhaps inevitable that the administration of the...more

Orrick, Herrington & Sutcliffe LLP

State Attorneys General Continue to Flex Muscles During COVID-19 Pandemic

Over the past few weeks, the Orrick State Attorney General Practice Group has highlighted the numerous ways in which state Attorneys General are enforcing state laws in response to the COVID-19 pandemic. With some states...more

Bracewell LLP

SBA Revises Certification Rules: Safe Harbor for Loans Under $2 Million, Larger Loans Still Subject to Audit

Bracewell LLP on

The Small Business Administration has issued new guidance regarding the certification of necessity under the Paycheck Protection Program. Now, borrowers who received loans for less than $2 million -- roughly 98% of PPP loans...more

BCLP

Paycheck Protection Program: Analyzing Borrower Certification Risks

BCLP on

The shifting narratives around the government’s interpretations regarding eligibility for participation in the Paycheck Protection Program (PPP) has caused many borrowers to reconsider their own applications and to consider...more

Alston & Bird

New PPP Funding Ups Ante for Compliance Failure—Audits on the Horizon

Alston & Bird on

The unprecedented nature of the CARES Act grew even more stark last week when Congress appropriated additional stimulus funds to address the COVID-19 pandemic. Our White Collar, Government & Internal Investigations Team...more

Nelson Mullins Riley & Scarborough LLP

False Claims Act and Other Potential Liability for Misuse of Paycheck Protection Program Loans

In response to the economic crisis caused by the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was signed into law and dedicated $349 billion to the Paycheck Protection Program, or...more

Balch & Bingham LLP

Banks Beware: New Class Actions Alleging Banks Prioritized Large PPP Loans Over Smaller Ones

Balch & Bingham LLP on

In a flurry of new class actions filed on behalf of unhappy small business owners, banks are facing suits alleging they unlawfully prioritized processing large loans under the Paycheck Protection Program (PPP) over smaller...more

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