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Pandemic Relief Regulatory Compliance

Practice Overview

Federal and state governments responded immediately to the Covid‑19 pandemic, transforming virtually overnight the regulatory framework governing lending and servicing.

Congress enacted the CARES Act, which created protections for borrowers and appropriated $670 billion for small business lending through the Paycheck Protection Program, and has since passed additional legislation allowing for pandemic-related stimulus payments. As those changes created new laws and regulations, states implemented their own restrictions around collections and foreclosures. The tightened regulatory scrutiny companies now face emphasizes rigorous compliance management systems and the ability to quickly adjust existing processes to accommodate these many new requirements.

Buckley’s financial services regulatory team is well positioned to advise companies on all types of consumer and small business loan origination and servicing practices, including credit reporting and debt collection. We advise banks on the regulatory complexities of pandemic stimulus payments and on related obligations concerning deposits. Our attorneys work with clients to implement and execute the eligibility, loan amount, and forgiveness aspects of the PPP, bolstered by our experience with fair lending laws and laws governing unfair or deceptive acts or practices. We rely upon our experience and agility to help financial institutions of all types and sizes navigate the legal and operational complexities of implementing federal and state emergency laws, regulations, and orders, and harmonize compliance with fast-changing investor requirements.

In addition to traditional legal advisory services, our regulatory team built the Covid‑19 Regulatory Tracker, an interactive, web-based repository designed to help clients keep up with state laws, regulations, and executive orders issued in response to the pandemic that now govern the delivery of financial products and services.

Our regulatory team continues to work closely throughout the pandemic with our enforcement, white collar, congressional investigations, and litigation teams so that our regulatory advice anticipates, and mitigates the risk of, governmental inquiries and private and class action litigation.


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