COVID-19 operational support
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Looking Ahead in 2022
One of CLA’s strategic advantages is our deep industry specialization. As we look to get a leg up on 2022 and absorb the lessons learned from 2020 and 2021, we see numerous opportunities and areas of focus for our financial institution clients. If we’ve learned anything during this time, it’s that we need to look at risk differently in this ever-changing environment.
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Observations on Recent PPP Releases from SBA
Submission of PPP loan forgiveness applications are expected to begin today. Are you and your borrowers ready?
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Video: Insights on the Main Street Lending Program
In today’s video, Todd Sprang, Susan Sabo, and Charlie Cameron from the CLA Financial Institution team discuss their insights into the Main Street Lending programs. Their discussion includes: How should financial institutions account for PPP loans? What are the impacts to capital from PPP Loans or the Liquidity Facility? What are the key aspects of the Main Street […]
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Federal Banking Agencies Provide Appraisal and Evaluation Deferrals to Expedite Lending
Federal banking agencies issued an interim final rule this week to temporarily defer real estate related appraisals and evaluations under the agencies’ interagency appraisal regulations. The rule provides temporary relief to allow regulated institutions to extend financing to creditworthy households and businesses quickly during the national emergency declared in connection with COVID-19.
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Regulatory Compliance Relief for Mortgage Servicing Loosens Timeframes but Doesn’t Eliminate Requirements
As COVID-19 continues to impact local economies, financial institutions are faced with the challenge of maintaining a consistent level of compliance with federal and state regulatory guidelines while helping their community and customers through this time of crisis. Though national regulators have offered flexibility in serving customers during this challenging time, the actions taken to date provide limited relief to institutions from a compliance perspective.
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It is Not Too Late to Enhance Your Pandemic Plan
As we continue to navigate the challenging times brought on by COVID-19, financial institutions have been rightly focused on employee safety, customer service, and business continuity. But, regulatory statements released to date should remind all institutions of the importance of pandemic planning even as we are in the midst of the current crisis. Just because institutions have quickly adapted to the new realities they are facing, does not mean that additional challenges aren’t around the corner.
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Video: Credit Risk Management in Times of Uncertainty
In today’s video, Todd Sprang, Susan Sabo, and Erica Crain from the CLA Financial Institution team discuss managing credit risk in these uncertain times.
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The Fed Announces New Facilities Which Will Provide Up to $2.3 Trillion in Liquidity with $600 Billion Directed at Main Street
Today the Federal Reserve Banks have announced the formation of two facilities aimed to assist banks, their holding companies and credit unions (“Entities”) in preserving Main Street businesses. The two facilities, the Main Street New Lending Facility (MSNLF) and Main Street Expanded Loan Facility (MSELF) will provide opportunities for entities to sell loans to the […]
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Recording Available: PPP for Lenders Livestream
This video is a recording of Monday’s CLA Livestream broadcast in the event you missed our live event. Todd Sprang, Leslie Boyd, and Charlie Cameron cover the key issues facing lenders to date related to lending through the Paycheck Protection Program (“PPP”).