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Financial Services Law Insights and Observations

New York Department of Financial Services encourages participation in Small Business Administration’s paycheck protection loan program

State Issues Covid-19 New York

State Issues

On April 3, the New York Department of Financial Services Superintendent published a letter to state-regulated entities informing them about the Paycheck Protection Loan Program established by the CARES Act. The letter encouraged eligible institutions to participate in the program and urged those not currently eligible to obtain eligibility.

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