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The Federal Reserve Board provided a three-month extension for its COVID-19 related lending facilities scheduled to "expire on or around" September 30, 2020.

Borrowers with loans over $2 million "may still have an adequate basis" for making the required good-faith certification in light of individual circumstances.

In yet another sign that the federal government is following through on its warnings about PPP loan fraud, the Department of Justice, according to reports from Reuters, has issued grand jury subpoenas...

President Trump signed the Consolidated Appropriations Act (The Act) on Dec. 27, 2020, which contains over $900 billion of additional stimulus funding...

FINRA proposed extending the effective date of certain temporary rule amendments to provide FINRA staff with short-term relief from certain enforcement and other procedural requirements while operations are impacted by COVID-19.

SIFMA requested that FINRA allow member firms to rely on remote inspections of branch offices for the duration of the COVID-19 pandemic.

In the first installment of Seyfarth's 2021 monthly Consumer Financial Services Webinar Series held on February 24, 2021, attorneys David M. Bizar, Tonya M. Esposito and J. Patrick Kennedy discussed the major legislative initiatives, ...

The Department of the Treasury and the Internal Revenue Service have extended the treatment provided in Notice 2020-46 to leave-based donation programs and cash payments in connection with such programs ...

A key feature of the CARES Act $2 trillion relief package is the creation of the Paycheck Protection Program (PPP), which authorizes $349 billion for businesses to obtain loans of up to...

In the third installment of our webinar series focusing on CARES Act Title IV emergency financing facilities and related programs established by the Federal Reserve under Section 13(3) of the Federal Reserve Act...

In the evening of December 21, 2020, both Houses of Congress passed the Consolidated Appropriations Act, 2021, H.R. 133.

Much has been written about the new CARES Act distribution that allows impacted COVID-19 participants to access up to $100,000 in their tax-qualified defined contribution plan penalty-free and with income taxes...

As part of a suite of COVID-19 relief programs, the CARES Act appropriated $100 billion into a Provider Relief Fund meant for "hospitals and other healthcare providers on the front lines...

The FDIC proposed a rule change that would reduce the impact of deposit insurance assessments on insured depository institutions participating in the Small Business Administration's Paycheck Protection Program.

The Federal Reserve Board ("FRB") expanded the Paycheck Protection Program ("PPP") Liquidity Facility ("PPPLF") to program lenders approved by the Small Business Administration ("SBA").

On Saturday, April 17, the Small Business Administration (SBA) activated a new website and released a sample application form for the Restaurant Revitalization Act grant program established...

Milbank Financial Institutions Regulatory partner Douglas Landy and Technology and Outsourcing partner Nicholas Smith will speak on a webcast, hosted by the American Bar Association (ABA)...