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SBA Announces Opening of PPP Direct Forgiveness Portal
Source: SBA Press Release The U.S. Small Business Administration (SBA) is launching a streamlined application portal to allow borrowers with Paycheck Protection Program (PPP) loans $150,000 or less through participating lenders to apply for forgiveness directly through the SBA. “The SBA’s new streamlined application portal will simplify forgiveness for millions of our smallest businesses — […]
USDA Announces Pandemic Relief Funds for Loggers and Truckers
Are you a timber logger or trucker whose operation has been impacted by the coronavirus pandemic? USDA’s Pandemic Assistance for Timber Harvesters and Haulers program (PATHH) will provide financial relief to timber harvesting and timber hauling businesses that experienced losses in 2020 due to COVID-19. This new program is part of USDA’s Pandemic Assistance for […]
CFPB and Fannie Mae Make Post-Foreclosure Moratorium Changes to Mortgage Servicing Rules
The Consumer Financial Protection Bureau (“CFPB”) recently issued the 2021 Final Rule, effective August 31 through December 31, 2021, temporarily amending certain provisions of the Real Estate Settlement Procedures Act, Regulation X (12 C.F.R. Part 1024) in an attempt to provide relief for mortgage borrowers facing financial hardship due to the COVID-19 pandemic. Below is […]
Employer Update – DOL Cybersecurity Best Practices and Audits
In April 2021, the Department of Labor (DOL) issued best practices guidance on cybersecurity measures for ERISA retirement plans. Shortly thereafter the DOL began actively auditing plans for cybersecurity. The guidance establishes minimum requirements for addressing cybersecurity risk and was issued in three parts: (click link to DOL guidance) Cybersecurity Best Practices Tips for Hiring […]
Federal Foreclosure Moratorium Extended For Final Time
On June 24, 2021, the Biden-Harris Administration announced a further extension of the foreclosure moratorium on federally-backed mortgages, until July 31, 2021. This will be the final extension of the moratorium. The announcement also included additional measures to address the COVID-related housing crisis, including taking steps to ensure that homeowners are reviewed for loss mitigation […]
The Difference Between a Benefit Corporation and a Certified B Corp
Benefit Corporations v. Certified B Corps A benefit corporation is a corporation established under a state’s benefit corporation law (13-C M.R.S.A. § 1801 et seq. in Maine) which provides a legal framework and governance structure for benefit corporations. Beyond maximizing the value of shares, benefit corporations must have a purpose of creating a general public […]