COVID-19 regulatory and tax updates
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Proposed Legislation Could Impact Financial Services Company ERC Filings
Legislation released by the House Ways and Means Committee last week proposes a number of changes, notably a provision that would end ERC filing substantially earlier than the initial deadline. This would limit the ability for financial services companies who have not yet filed to claim the credit. Under this proposal, all claims (2020 and […]
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Updates on PPP Loan Forgiveness
With new forms come new observations…see what Brittany Stern has to share about the new PPP forgiveness forms.
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$900 Billion Pandemic Relief Bill Awaits President’s Decision to Sign
As we wait for the President to sign the latest economic relief package, included are key provisions for financial institutions involved in PPP.
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New Crisis = New Safety and Soundness Standards, Part 4
In this final piece of the series, we explore the evaluation of Management. We encourage you to join us for our live webinar on Tuesday September 1, 2020 at 2pm CST where we will explore this blog series in more detail. You can use this link to register.
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New Crisis = New Safety and Soundness Standards, Part 3
We continue our review of the latest interagency examiner guidance by exploring Earnings, Capital, Liquidity and Sensitivity to Market Risk.
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New Crisis = New Safety and Soundness Standards, Part 2
We continue our review of the latest interagency examiner guidance by exploring PPP Loans, Credit Modifications, Nonaccrual Loans, and the ALLL/ACL. R
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New Crisis = New Safety and Soundness Standards
With the release of interagency examiner guidance for assessing safety and soundness, many financial institutions should take time to assess their readiness for upcoming examinations.
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The Impact of the PPP Flexibility Act and Related SBA Releases of Updated Form 3508
The Paycheck Protection Program continues to evolve and the passage of the Paycheck Protection Program Flexibility Act of 2020 has created more questions. Here are some insights to help lenders navigate these changes.
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Form 1502 Guidance Reveals Additional Clawbacks
This blog is being posted on behalf of my colleagues, Susan Sabo and Todd Sprang, principals in CLA’s financial institutions practice. On May 21, 2020, the SBA issued more guidance to lenders about the Paycheck Protection Program (PPP) Lender Processing Fee Payment and 1502 Reporting Process. Within the eight-page document, the SBA reiterates aspects of […]
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Stress Testing During a Stressful Pandemic? How Stress Testing Can Help
This blog is being posted on behalf of my colleague, Erica Crain, leader of CLA’s national credit risk services. It is no surprise stress testing would move to the top of the list during a global pandemic and economic crisis. If there is one thing present in most people and in most places right now, […]