CFPB’s Section 1071 Final Rule (Part 1): A General Overview - The Consumer Finance Podcast
Law Brief: CARES Act Relief for Small Businesses
Monthly Minute | Financial Relief for COVID-19
Nota Bene Episode 82: How Congress is Meeting the Pandemic: Stimulus, Relief, and Recovery with Elizabeth Frazee and Jonathan Meyer
Bankruptcy and Creditors' Rights Issues in Light of COVID-19
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
Under the Paycheck Protection Program ("PPP"), borrowers who received a PPP loan in excess of $2 million, whether from a single loan or the combined total of loans from the borrowers' affiliates, have known for a while that...more
While a lot has been written and said about the “need” certification when it comes to the Paycheck Protection Program, particularly for public companies, the SBA and Treasury have been relatively quiet about how many...more
The IRS has released Notice 2020-50, which provides guidance to employers that have amended their retirement plans to take advantage of provisions under the CARES Act that provide access to special plan distributions, known...more
On Friday, June 19, 2020, the IRS released Notice 2020-50 which provides additional guidance regarding the coronavirus-related distributions (“CRDs”) and coronavirus-related loans and loan repayment delays (“CR Loan Relief”)...more
On June 19, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-50, which provides clarity to plan administrators and participants on coronavirus-related loans and distributions following the passage of the...more
On June 5, 2020, certain key provisions of the CARES ACT regarding the Paycheck Protection Program (PPP) were amended by passage of that certain Paycheck Protection Program Flexibility Act of 2020, as supplemented by those...more
On May 13, 2020, the U.S. Treasury published PAYCHECK PROTECTION PROGRAM LOANS Frequently Asked Question (FAQ 46). It addresses SBA review of a borrower’s required good-faith certification concerning the necessity of a loan...more
On March 27, 2020, Congress passed and the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which is an approximately $2 trillion stimulus and economic relief package. ...more
Congress passed new legislation to extend and relax the loan forgiveness requirements of the Paycheck Protection Program (“PPP”), the federal aid program established by the CARES Act for small businesses affected by the...more
On June 11, 2020, the Small Business Administration (SBA) released a revised interim final rule to implement changes made by the Paycheck Protection Program (PPP) Flexibility Act. ...more
On Friday, June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (“PPPFA”). The PPPFA amends the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief, and Economic...more
The CARES Act created the Paycheck Protection Program (“PPP”), which amended the Small Business Act (“SBA”) to provide short term loans to companies with fewer than 500 employees and other companies (such as those in the...more
On June 8, 2020, the SBA Administrator and the Secretary of the Treasury issued a joint statement regarding changes effected by the recently-enacted Paycheck Protection Program Flexibility Act (PPPFA). In that statement, they...more
On 4/15/20, the SBA and the U.S. Department of the Treasury released an application form for Paycheck Protection Program (PPP) loan forgiveness along with instructions for completing the form. ...more
Since the Paycheck Protection Program (“PPP”) was implemented under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), borrowers have sought clarity from the Small Business Administration (“SBA”) about the...more
Since its implementation under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), there has been a lot of attention on the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”). Both...more
On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”). As the name suggests, the Flexibility Act provides PPP loan borrowers (“Borrowers”) with...more
The Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act), which became law on June 5, made significant changes in the Paycheck Protection Program (PPP)....more
On Friday, June 5, the President signed into law the Paycheck Protection Program Flexibility Act (the “Act”). Originally enacted as part of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March...more
US President Donald Trump signed the Paycheck Protection Program Flexibility Act of 2020 (the Act) on June 5, modifying certain provisions related to the forgiveness of loans under the Paycheck Protection Program (PPP). ...more
The Paycheck Protection Program (PPP) represented a lifeline to many businesses struggling to stay afloat amid the Coronavirus pandemic by providing forgivable loans to businesses to cover payroll and certain non-payroll...more