Revised term sheets and FAQs issued by the Federal Reserve Board expand the program and provide additional guidance for borrowers affected by the COVID-19 crisis. A chart outlining the updated term sheets can be found in the link below.
D. Jacques Smith, Randall A. Brater, Alexander S. Birkhold, Michael F. Dearington, Rebecca W. Foreman, Nadia Patel, Laura Zell
Headlines that Matter for Companies and Executives in Regulated Industries
On April 30, the IRS released guidance providing that Paycheck Protection Program (PPP) loan borrowers may not deduct costs that are paid for with loan proceeds that are forgiven under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
In this video episode of Fashion Counsel, Arent Fox Fashion & Retail Practice Leader Anthony V. Lupo, Arent Fox Labor & Employment Practice Leader Michael L. Stevens, and Arent Fox Partner Robert J. Ernest discuss the top issues fashion and retail companies need to think about before reopening.
Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Congress created a federal unemployment supplement program, Pandemic Unemployment Assistance (PUA), which extends emergency jobless benefits to gig workers and others who may be ineligible for benefits under existing programs.
Under IRS Notice 2020-32, no deduction is allowed for a payment that is otherwise deductible if the payment of the expense results in forgiveness of a covered loan pursuant to the CARES Act and the income associated with such forgiveness is excluded from gross income under the CARES Act.
It feels like only yesterday that we were discussing the seminal 2018 DC Circuit case, PHH Corp. v. CFPB, the first decision to uphold the constitutionality of the Consumer Financial Protection Bureau (CFPB or Bureau).
As we noted previously, on April 7, 2020, the Council of the District of Columbia (the “Council”) unanimously passed the COVID-19 Response Supplemental Emergency Amendment Act of 2020 (the “COVID-19 Supplemental Act”). This emergency legislation, which was officially enacted on April 10, 2020, will
The CARES Act provides another resource for federal contractors seeking to retain personnel, but actually obtaining the money requires circumspection and strategy.
The Guidance applies to a category of tax-exempt entities known as “Reimbursing Employers,” which are permitted by Congress to self-insure claims for unemployment benefits.
Rumors have circulated through the export community for months, and the Bureau of Industry and Security (BIS) has finally acted. In a final rule published April 28, 2020, BIS is removing License Exception Civil End-Users (CIV) (15 CFR §740.5) from the Export Administration Regulations (EAR).
The EPA’s controversial science adviser policy has suffered two more defeats following the recent Union of Concerned Scientists v. Wheeler decision.
The California Court of Appeal recently overturned a $13 million jury verdict against the University of California Los Angeles (UCLA) in a gender discrimination lawsuit brought by a physician faculty member.
Healthcare partner Stephanie Trunk has been selected by JD Supra to receive a 2020 Readers’ Choice Award in the healthcare category.
As coronavirus infections begin to abate in some parts of the United States, employers are contemplating how to safely and efficiently return to work. It will not be easy.
In yet another action on April 28, 2020, the Bureau of Industry and Security (BIS) issued a final rule imposing stricter license requirements on a wide range of exports, reexports and transfers to China, Russia, or Venezuela for “military end uses” or to “military end users.”
On April 24, 2020, the US Department of the Treasury released new guidance to assist businesses with calculating the maximum Paycheck Protection Program (PPP) loan amount to which they are entitled.
On April 28, the Bureau of Industry and Security (BIS) issued a proposed rule that would revise License Exception Additional Permissive Re-Exports (APR).
At the request of the California New Car Dealers Association (CNCDA), we prepared a COVID-19 Operations Protocol to be used by California dealerships that are open or will soon be re-opening, for vehicle sales.
In recent years, the US Government has grown increasingly concerned by China’s official policy of “military-civil fusion” (MCF), and multiple national security agencies have sounded the alarm bell.
The Entertainment Software Rating Board (ESRB), which administers the ratings system for video games, has launched a new warning label for use on video games that include in-game offers to purchase digital goods or premiums that include randomized elements.
The Treasury’s Office of Foreign Assets Control (OFAC) issued web-based guidance to remind the public of the many ways medical exports and other humanitarian services, supplies, and donations can legally flow to sanctioned countries.
Earlier this month, the Occupational Safety and Health Administration (OSHA) issued two memoranda detailing the agency’s plan for conducting enforcement actions during the COVID-19 pandemic.
Among the many changes COVID-19 has brought, one far-reaching change for employers has been transitioning their workforces to work from home wherever possible. Unfortunately, there has been a rise in phishing and hacking attempts to take advantage of vulnerabilities that arise from these adjustments
The Paycheck Protection Program (PPP) is one of several lifelines extended by Congress to small businesses struggling to survive the COVID-19 public health crisis.