On April 5, the Consumer Financial Protection Bureau (“CFPB”) proposed amendments to Regulation X with the effect of preventing foreclosure on certain residential mortgage loans until January 1, 2022. [1] With a proposed effective date of August 31, ... Read full article
OK, so you’re a sophisticated lending attorney in Metropolis who is comfortable with everything from aircraft financing to syndicated loans secured by casinos in Macau. Yet you feel a twinge of uncertainty when a business loan is to be secured by wine ... Read full article
The 2021 increase to California’s homestead exemption to up to $600,000 stands to change the legal and economic relationship of guarantors with their lenders and vendors who make loans or sell goods or services on credit. Before examining this important ... Read full article
On January 19, 2021, the U.S. ... Read full article
On January 6, 2020, the SBA published its 26 th Interim Final Rule (the First Draw PPP IFR ) and 27 th Interim Final Rule (the Second Draw PPP IFR ) [1] with respect to the Paycheck Protection Program ( PPP ), as reauth ... Read full article
This client alert is the second of a two part series concerning the Save Our Stages Act (the “ SOS Act ”), which became law on December 27, 2020 as Section 324 of the Economic Aid to Hard-Hit Small Business, Nonprofits, and Venues Act (the “ Economic Aid ... Read full article
Among the various bills that were amalgamated in the Consolidated Appropriations Act, 2021 (the omnibus appropriations and stimulus funding bill that was signed into law on December 27, 2020) was a modified version of the Save Our Stages Act (the “ SOS ... Read full article
On December 27, 2020, President Donald Trump signed into law the Consolidated Appropriations Act, 2021 (the 2021 Consolidated Appropriations Act ), an omnibus statute that is comprised of, among other laws, twelve fiscal year 2021 appropriations bills for ... Read full article
As reported in our earlier blog post The CARES ACT – Tax Relief , the federal CARES Act provides for forgiveness of indebtedness for eligible recipients of Paycheck Protection Program (“PPP”) loans in an amount equal to the sum of the recipient’s payroll ... Read full article
On October 2, 2020, the U.S. ... Read full article
On August 31, both houses of the California legislature passed and sent to Governor Newsom for signature the California Consumer Financial Protection Law (the CCFPL). Effective on January 1, 2021 if Governor Newsom signs the bill (which he is expected to ... Read full article
This post originally appeared as an article in the July/August 2020 issue of the Journal of Corporate Renewal ( JCR ), the official publication of the Turnaround Management Association (TMA). The ability of companies to continue as going concerns has ... Read full article
On July 15, 2020, the Federal Reserve Bank of Boston issued new guidance expressly permitting tribal businesses that are borrowers under the Main Street Lending Program (“ MSLP ”) to pay dividends to their tribal government owners. In its amended ... Read full article
The U.S. Supreme Court in a 5-4 decision on July 9, 2020 held that the State of Oklahoma lacked jurisdiction to prosecute an enrolled member of the Seminole Tribe of Oklahoma because the crimes he was accused of committing occurred within the Muscogee ... Read full article
Below please find a link to a newly-updated version of the Sheppard, Mullin, Richter & Hampton LLP ( Sheppard Mullin ) Paycheck Protection Program ( PPP ) Loan Forgiveness Estimator Workbook (the Workbook ), which was created by and is the property of ... Read full article
The $600 billion Main Street Loan program has been highly anticipated to provide financial support in the form of loans to small and medium-sized U.S. businesses affected by the COVID-19 pandemic. The Federal Reserve Bank of Boston that is administering ... Read full article
On July 4, 2020, President Trump signed into law a bill passed by the U.S. ... Read full article
On June 9 the Consumer Financial Protection Bureau (CFPB) published a Factsheet on how to disclose title insurance on the Loan Estimate and Closing Disclosure, including when a negative owner’s title insurance cost disclosure is appropriate, and updated ... Read full article
On June 16, 2020, the U.S. Department of Treasury ( Treasury ) and U.S. ... Read full article
[Update: This is an updated version of an article published on June 5, 2020 ] ... Read full article
