News & Analysis as of June 30, 2025

Paycheck Protection Program (PPP)

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The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -

The Future of Small Business in Federal Contracting

Husch Blackwell LLP on 6/26/2025

For over 60 years, the Small Business Administration has celebrated Small Business Week to highlight the contributions of small and medium-sized businesses to the national economy. The Trump Administration marked this year’s...more

What to Know About PPP Appeals and Next Steps - After the Economic Aid Act: An Updated Guide, ‎Part 4 - Update

Schwabe, Williamson & Wyatt PC on 2/25/2022

Update: On January 27, 2022, the Small Business Administration (“SBA”) issued SBA Procedural Notice 5000-82766, SBA Loan Reviews of Paycheck Protection Program Lender Partial Approval Forgiveness Decisions (“2022 Notice”)...more

What to Know About PPP Appeals and Next Steps - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

Schwabe, Williamson & Wyatt PC on 11/16/2021

Update: On September 16, 2021, the Final Rule on Borrower Appeals of Final SBA Loan Review Decisions was posted and became effective on September 14, 2021 (the “Final Rule”). The Final Rule applies to all appealable final SBA...more

What to Know about PPP Appeals and Next Steps

Schwabe, Williamson & Wyatt PC on 8/12/2021

Update: On July 28, 2021, an Interim Final Rule on COVID-19 Revenue Reduction Score, Direct Borrower Forgiveness Process, and Appeals Deferment was posted. That Interim Final Rule conforms the applicable PPP rules to provide...more

PPP Extended; CFPB Revokes Pandemic-Related Regulatory Relief

Goodwin on 4/2/2021

In This Issue. President Biden signed a bill extending the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) through May 31, 2021; the Consumer Financial Protection Bureau (CFPB) announced the rescission...more

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #2

Lowenstein Sandler LLP on 3/19/2021

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

CFPB To Revisit Trump-Era QM Final Rules

Goodwin on 2/26/2021

In this Issue. The Consumer Financial Protection Bureau (CFPB) issued a statement announcing its intention to revisit Trump-era qualified mortgage (QM) final rules; the Biden Administration announced changes to the Small...more

FDIC Finalizes Brokered Deposits and ILC Rules Ahead of the Holidays

Goodwin on 12/17/2020

In this Issue. The Federal Deposit Insurance Corporation (FDIC) was busy this week, finalizing rules that modernize brokered deposits regulations, establish new standards for parent companies of industrial loan companies and...more

SEC Charges Trust Company With Operating Unregistered Investment Companies

Goodwin on 10/8/2020

SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

PPP Lenders and Fraudulent Borrowers: False Claims Act Liability and AML Risk

Ballard Spahr LLP on 9/3/2020

Can BSA/AML Requirements Lead to Deemed Knowledge of Borrower Fraud? The first two weeks of August brought a milestone of sorts in the ongoing recovery from the economic downturn brought on by the COVID-19 pandemic. The...more

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on 8/28/2020

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

SBA Issues Promised Appeals Procedures For PPP Loan Review Decisions

Morrison & Foerster LLP - Government... on 8/18/2020

As we previously reported, when the Small Business Administration (SBA) issued its first Interim Final Rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities back in May, SBA explained that it...more

Financial Services Weekly: Amendments To SEC Proxy Solicitation Rules Approved By A 3-1 Vote

Goodwin on 8/3/2020

In This Issue. The Securities and Exchange Commission (SEC) finalized amendments to its proxy solicitation rules that will modify the practices of proxy advisory firms, providing them with greater transparency and...more

Financial Services Weekly Roundup: Gone Phishing – The SEC’s OCIE Addresses Ransomware Attacks

Goodwin on 7/16/2020

In This Issue. The Securities and Exchange Commission (SEC) adopted amendments to its exemptive applications procedures under the Investment Company Act of 1940, as amended (the 1940 Act) and proposed to amend Form 13F to...more

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on 6/26/2020

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Latest Update on the Paycheck Protection Program Flexibility Act of 2020

Lowenstein Sandler LLP on 6/23/2020

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

FAQ: Paycheck Protection Program Forgiveness For Borrowers

Husch Blackwell LLP on 5/28/2020

On May 22, 2020 the SBA and Department of the Treasury released the long awaited Interim Final Rule on Forgiveness of Paycheck Protection Program (PPP) Loans and the Interim Final Rule on SBA Loan Review Procedures, following...more

Treasury Issues Interim Final Rule on Paycheck Protection Program Loan Increases

Chambliss, Bahner & Stophel, P.C. on 5/15/2020

On May 13, 2020, the Treasury Department issued an interim final rule that provides guidance on increases to certain Paycheck Protection Program (PPP) loans issued by the Small Business Administration (SBA) to partnerships...more

Financial Services Weekly Roundup: SBA Provides Guidance On Borrower’s Good Faith Certification

Goodwin on 5/14/2020

In This Issue. The Small Business Administration (SBA) provided guidance on a borrower’s good faith certification on the necessity of Paycheck Protection Program (PPP) loan requests, announcing a safe harbor regarding this...more

Overview of New SBA and IRS Guidance Regarding Paycheck Protection Program, Including the “Need” Certification and PPP Loan...

Bass, Berry & Sims PLC on 5/6/2020

This alert has been updated to reflect further guidance issued by the Small Business Administration (SBA) on May 5, 2020 indicating that forthcoming rule changes will extend the repayment date for the safe harbor discussed...more

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

Goodwin on 4/24/2020

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

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Small Business Administration › Final Rules › Paycheck Protection Program (PPP)

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