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SBA Procedural Notice on PPP Loans and Changes of Ownership

On October 2, 2020, the U.S. Small Business Administration (“SBA”) published a procedural notice aimed at clarifying the required procedures for changes…

Banking & Financial Institutions Client Alerts COVID-19 Resources

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The Growing Seeds of the Interaction of the Regulated Banking System and Hemp-related Businesses

On December 3, 2019, the federal bank regulatory agencies[1] and the Financial Crimes Enforcement Network (FinCEN), in consultation with the Conference of…

Banking & Financial Institutions

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Federal Reserve Announces Changes to Main Street Lending Program

Under the Main Street Lending Program, the Federal Reserve will purchase loans from eligible banks with the goal of ensuring that credit…

Banking & Financial Institutions COVID-19 Resources

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Impact of SEC’s Proposed Rule on Verifying Accredited Investor Status under Rule 506(c)

On March 4, 2020, the Securities and Exchange Commission (“SEC”) announced the publication of a proposed rule (the…

Banking & Financial Institutions Capital Markets Client Alerts

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FDIC Issues Proposed Rule to Mitigate the Deposit Insurance Assessment Effect of Participation in the PPP, the PPPLF, and MMLF

On May 12, 2020, the FDIC approved a notice of proposed rulemaking that would mitigate the deposit insurance assessment effects of banks’…

Banking & Financial Institutions COVID-19 Resources

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BE-10 Benchmark Survey Filing: U.S. Investment in Foreign Businesses

The Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce is conducting a 5-year benchmark survey of U.S. investment in…

Banking & Financial Institutions Capital Markets COVID-19 Resources Emerging Companies Investment Funds Mergers & Acquisitions

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Federal Banking Agencies Issue Interim Final Rule Deferring Appraisals and Evaluations for Real Estate Transactions

On April 14, 2020, in a joint press release, the federal banking agencies issued an interim…

Banking & Financial Institutions COVID-19 Resources

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Federal Reserve Announces Main Street Lending Program

The Federal Reserve has announced that it will ensure that credit flows to small and mid-sized businesses with the purchase of up…

Banking & Financial Institutions COVID-19 Resources

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Federal Reserve announces Paycheck Protection Program Lending Facility

In connection with a number of announcements today, the Board of Governors of the Federal Reserve System (Federal Reserve) announced…

Banking & Financial Institutions COVID-19 Resources

Insights

CARES Act Temporary Changes to Community Bank Leverage Ratio

Section 4012 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) directs the federal banking agencies to issue an interim…

Banking & Financial Institutions COVID-19 Resources