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Today is: January 17, 2021  
 
 

  

Monthly Telephone Briefing

BCG offers its members monthly Telephone Briefings on legal and regulatory matters. Also, you have the option to listen to audio presentations of meetings archived for up to 12 months after their original presentation dates. This benefit is called, “Listen While You Work.” You simply select a topic, minimize the screen, and listen to a streaming audio presentation while you work at your desk.

Please feel free to sign up annually, register for the next scheduled BCG Monthly Telephone Briefing or download an archived Handout below.

 

BCG Monthly Telephone Briefing Schedule 2021
Jan Feb Mar April May June July Aug Sept Oct Nov Dec
15 19 19 16 21 18 16 20 17 15 19 17

 

Current BCG Monthly Telephone Briefing Topic(s)

 

  

 

Friday, January 15, 2021
12:00 - 1:30 p.m.

The New COVID-19 Stimulus Bill (HR 133): What Financial Institutions Need to Know

On December 21, 2020, Congress passed HR 133, the Consolidated Appropriations Act 2021 (“CAA”) with significant bipartisan support in Congress. President Trump signed the CAA into law on December 27, 2020. The CAA includes $900 billion in stimulus relief for those U.S. individuals and businesses affected by the COVID-19 pandemic. The CAA is over 2,000 pages long and impacts various industries. Our January 15, 2021 Monthly Telephone Briefing will focus on key areas of the CAA that impact financial institutions, including the following:
 
• Changes to the Paycheck Protection Program (PPP) administered by the SBA, including the reopening of the PPP, additional protections for lenders, new types of forgivable non-payroll costs, changes to the covered period to use the PPP loan proceeds, a new simplified forgiveness application, allowing certain borrowers to obtain a second PPP loan, changes to the lender fee structure, and others;

• Extension of the relief under the CARES Act for certain SBA non-PPP loans, and additional enhancements for certain SBA non-PPP loans;
• Extension of the suspension under the CARES Act for reporting requirements for certain troubled debt restructurings;
• Extension of the optional delay provided in the CARES Act for adopting the Current Expected Credit Losses (CECL) accounting standard;
• Extension of the Centers for Disease Control and Prevention’s residential eviction moratorium;
• Restart of the SBA’s Economic Injury Disaster Loan Program; and
• Exemption from garnishment for the new economic impact payments authorized under the CAA.

Join us for the January Monthly Telephone Briefing for a detailed discussion of the CAA and its impact on financial institutions. Download Handout Here!

 

 

 
 
 
 
 
 

 

 

 

 

 

 

 

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