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Category: Banking

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AICPA Releases PPP Q&A for Lenders

The American Institute of CPA’s (AICPA) released Technical Questions and Answers (TQA) on June 30 to address common accounting issues for Paycheck Protection Program (PPP)

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Financial Reporting Update

The Financial Accounting Standards Board (FASB) met yesterday, May 20, and made a tentative decision to extend the effective dates for the new revenue recognition

PPP Forgiveness Application Draft

PPP Forgiveness Update A first draft of the PPP loan forgiveness application (PDF link) has been released. As with everything related to this program, we

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Paycheck Protection Program SBA Updates

Eligibility On March 27, 2020 President Trump signed into law the CARES Act which included the Paycheck Protection Program (PPP) loan provisions designed to help

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CARES Act

Congress has passed a $2.2 trillion stimulus package to support the economy during the virus pandemic.  The President has indicated that the bill will be

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COVID-19 Update: Loan Modifications for Banks

On March 22, 2020, regulators released an interagency statement on loan modifications by financial institutions working with customers affected by the coronavirus.  This statement applies