The American Financial Services Association (AFSA) today (March 31) submitted a letter of support to the National Economic Council on the Small Business Administration’s (SBA) Paycheck Protection Program (PPP).
“The PPP is the most important provision in the new stimulus bill for most small businesses,” AFSA President & CEO Bill Himpler wrote in the letter. “[The association] and its members are anxiously awaiting the regulations that will implement the PPP and get loans into the hands of small businesses as soon as possible.
Himpler also noted two requests for consideration by the SBA. First, vehicle finance companies, which are already actively lending to businesses, should be permitted to quickly and easily qualify to be lenders under the program. Second, implementing regulations should clarify which financial institutions are eligible. As written, it is not clear if financial services companies must have under 500 employees and less than $35.5 million in annual receipts or if they only have to be under the employee threshold.
The American Financial Services Association (AFSA) today (March 31) submitted a letter of support to the National Economic Council on the Small Business Administration’s (SBA) Paycheck Protection Program (PPP).
“The PPP… Read the rest
Today the American Financial Services Association, along with other financial services associations, sent a letter to Securities and Exchange Commission Chairman Jay Clayton, requesting that he apply a current expected credit loss (CECL)… Read the rest
Hudson Cook, LLP has established a Coronavirus Resource Page which contains important documents and links for clients and the consumer credit industry. The firm has also scheduled additional sessions of it's popular Compliance… Read the rest
On March 30, the American Financial Services Association joined several other trade associations on a petition to the FCC requesting an immediate ruling, clarification, or waiver regarding parts of the Telephone Consumer Protection Act.… Read the rest
Truist is pledging $25 million in philanthropic support which will for provide aid for basic needs, medical supplies, and financial hardship across the nation. The company is also offering payment relief and other programs to assist all … Read the rest
Today, the American Financial Services Association joined with other trade associations on a comment letter to Congressional leaders in support of the SECURE Notarization Act. If enacted, this legislation would expand the usage of Remote… Read the rest
The American Financial Services Association (AFSA), couldn’t help but notice today’s inter-agency notice, in which the Federal Reserve, Federal Deposit Insurance Corporation, National Credit Union Administration, Office… Read the rest
Earlier in March, RSM pledged more than $2.6 million to support its employees and local communities through the COVID-19 pandemic.
"Every employee in the U.S. and Canada may charge $50 per week for food on their expense reports through… Read the rest
Late last night, the Senate agreed to the third coronavirus stimulus package. Media coverage on the bill is comprehensive, but here’s what we think you need to know:
- There is no rate cap included;
- The bill does not deal with any non-mortgage
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