Financial Reporting Update
- May 21, 2020
The Financial Accounting Standards Board (FASB) met yesterday, May 20, and made a tentative decision to extend the effective dates for...
PPP Forgiveness Application Draft
- May 18, 2020
PPP Forgiveness Update A first draft of the PPP loan forgiveness application (PDF link) has been released. As with everything related...
Paycheck Protection Program SBA Updates
- May 1, 2020
Eligibility On March 27, 2020 President Trump signed into law the CARES Act which included the Paycheck Protection Program (PPP) loan...
Deductibility of Expenses Reimbursed by the Paycheck Protection Program
- May 1, 2020
The IRS released guidance on April 30th to explain that a taxpayer that receives a loan through the Paycheck Protection Program...
CARES Act
- March 27, 2020
Congress has passed a $2.2 trillion stimulus package to support the economy during the virus pandemic. The President has indicated that...
COVID-19 and Your Bank’s Credit Administration
- March 27, 2020
We have been receiving ongoing questions from financial institutions on how to work through the issues their customers are facing as...
COVID-19 Update: Loan Modifications for Banks
- March 25, 2020
On March 22, 2020, regulators released an interagency statement on loan modifications by financial institutions working with customers affected by the...
Strategies for Dealing with Everyday Banking Operations
- March 20, 2020
Many of the banks I have as clients have been telling me some of their strategies for dealing with everyday operations....
How to Prepare for LIBOR Replacement
- May 23, 2019
The London Interbank Offered Rate, or LIBOR, has been used for decades as the benchmark interest rate for many bank loans, including commercial and small business loans. But regulators have...