Covid-19 News & Analysis
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News items updated weekly on Thursday
Spotlight: Buckley's Covid-19 Legal Resources & Capabilities
Buckley's core strengths sit at the confluence of the most threatening risks companies of every size and in every industry now face from the pandemic and the government’s response. We feature a deep bench of industry-leading legal professionals that provide best-in-class advice through a tailored, responsive approach that delivers the legal experience of a diversified law firm.
SBA clarifies loan forgiveness application deadline
On October 13, the Small Business Administration (SBA) updated the Paycheck Protection Program (PPP) loan forgiveness FAQs to include a new question covering the PPP loan forgiveness application forms (3508, 3508EZ, and 3508S). Specifically, the SBA notes that even though the application forms...
InfoBytesFinCEN warns of Covid-19 unemployment insurance fraud
On October 13, the Financial Crimes Enforcement Network (FinCEN) issued an advisory for financial institutions to assist in detecting and preventing Covid-19-related unemployment insurance (UI) fraud. The advisory highlights specific ways illicit actors are exploiting the pandemic to engage in UI...
InfoBytes"Force majeure in the Covid era – What now?" by Elizabeth E. McGinn, Ryan S. Pollard, and Anthony Carral (Sports Litigation Alert)
The Covid-19 pandemic has significantly impacted all aspects of the global economy, and sports is among the many industries that moved quickly to minimize the disruption. Very early on, members of the sports industry scrambled to analyze their force majeure clauses as customers, vendors, and key...
ArticlesCSBS discusses CARES Act response in congressional letter
On October 9, the Conference of State Bank Supervisors (CSBS) wrote to the ranking members of the Senate Banking Committee and the House Financial Services Committee with an update on the organization’s efforts regarding the CARES Act and oversight of nonbank mortgage servicers. CSBS notes that...
InfoBytesNew York regulator permits video hearings
October 9, the New York State Department of Financial Services amended its rules governing adjudication proceedings to permit hearings to be held by videoconference. Whether a hearing is conducted by videoconference is at the discretion of the official who issued the notice for the hearing,...
InfoBytesU.S. Supreme Court to continue remote oral arguments through December
On October 9, the United States Supreme Court announced that all oral arguments scheduled for November and December will take place by telephone conference, and all parties will participate remotely. The proceedings will follow a similar format as hearings in October, including for live audio feed...
InfoBytesFannie Mae updates Covid-19 Seller FAQs
On October 8, Fannie Mae updated its Covid-19 Seller FAQs to include new guidance covering, among other things, (i) general standards for audited profit and loss statements; (ii) when a mortgage loan is considered to be reinstated; (iii) reusing desktop and exterior-only appraisals for subsequent...
InfoBytesSBA simplifies PPP forgiveness for loans under $50K
On October 8, the Small Business Administration (SBA), in consultation with the U.S. Treasury Department, announced a more streamlined loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. According to the interim final rule released with the application and...
InfoBytesVirginia directs additional funds for rent and mortgage relief
On October 7, Virginia’s governor announced his direction of $12 million in additional funding from the federal CARES Act to Virginia’s Rent and Mortgage Relief Program. The program was first launched in June with $50 million in funding available for renters and homeowners. In September, the...
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