The Treasury Department today issued much-anticipated guidance for the Paycheck Protection Program, which starting this week will provide up to $350 billion in fully forgivable loans to help small businesses maintain payrolls during the coronavirus pandemic.
The Federal Reserve announced a six-month delay for the implementation of its revised framework for determining control of a company by another company under the Bank Holding Company Act and the Home Owners’ Loan Act.
To help ease strains in the global U.S. dollar funding market, the Federal Reserve today established a temporary repurchase agreement facility for foreign and international monetary authorities.
As banks seek to contact customers with COVID-19-related information, the American Bankers Association and six other financial trade groups filed a petition requesting that the Federal Communications Commission issue an expedited declaratory ruling or waiver confirming that financial institutions’ COVID-19-related calls are exempt from the Telephone Consumer Protection Act’s requirements.
Littler Mendelson, a law firm specializing in employment issues, on Sunday wrote to the Department of Labor to convey feedback from ABA and other industry trade groups on how DOL should implement the Families First Coronavirus Response Act, which was signed into law in mid-March.
With many borrowers now taking advantage of nationwide forbearance programs as they struggle to make their monthly mortgage payments, Ginnie Mae announced today that it will take action to ensure liquidity in the mortgage-backed securities market during the coronavirus pandemic.
The Cybersecurity and Infrastructure Security Agency on Saturday updated guidance, broadening the list of jobs deemed to be “essential critical infrastructure workers.”
Employers will be able to make tax-free contributions to their employees’ student debt, according to one provision of the recently enacted CARES Act.
On Friday, the House passed—and President Trump signed into law—the CARES Act, a $2 trillion stimulus package to provide relief to American consumers and businesses struggling as a result of the coronavirus pandemic.
The Alternative Reference Rates Committee today issued a consultation on draft fallback language for variable-rate private student loans that reference the U.S. dollar London Interbank Offer Rate.