Financial Institutions Group's COVID-19 Resource Center
Our Financial Institutions Group has been on the forefront of dealing with COVID-19 for our clients. Whether providing training to Boards and employees, assisting with policies, procedures, and customer disclosures, interacting with regulators, addressing employee and other practical concerns, negotiating third-party agreements, or evaluating potential workout and other litigation issues, we can help your organization navigate through the complex legal challenges involved with pandemic-related issues.
We created this knowledge center to keep you informed and help you address issues arising from COVID-19 (coronavirus), and our response team is available to answer questions presented by this ongoing global crisis. Please email bfekina@bfkn.com if you would like to be notified when new content is available, and do not hesitate to reach out with any questions.
Banking & Financial Institutions
- CARES Act Paycheck Protection Program1 FAQs (Updated: January 15, 2021)
- Client Alert: New PPP Loan Program (January 15, 2021)
- Client Alert: FAQs on the PPP (April 6, 2020)
- Overdraft & PPP Class Action Litigation Against Banks Increases (September 8, 2020)
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FFIEC Highlights LIBOR Transition Risks (August 19, 2020)
- Regulators Encourage Banks To Continue To Work With Borrowers (August 4, 2020)
- Financial Institutions Group Offerings Update (July 8, 2020)
- Reconsidering Lessons From The Previous Crisis (May 11, 2020)
- D&O Insurance Issues In The COVID-19 Context (May 1, 2020)
- Interim Final Rule On PPP Loan Disbursements (April 30, 2020)
- Federal Reserve Establishes PPP Liquidity Facility (April 17, 2020)
- New SBA Guidance On PPP Loans To Bank Insiders (April 14, 2020)
- Mitigating Risk From PPP Loans (April 9, 2020)
- PPP Promissory Note Issues (April 8, 2020)
- COVID-19 & The Material Adverse Change Clause (April 3, 2020)
- Bank Regulatory COVID-19 Guidance – Takeaways On Working With Borrowers & TDRs (March 24, 2020)
- Top 10 Considerations for Pandemic Responsiveness (March 19, 2020)
- 10 Steps For Following Regulators’ COVID-19 Guidance While Still Protecting Your Bank (March 17, 2020)
- Webinar: Is Your Bank's Pandemic Contingency Plan Ready for Implementation? (March 12, 2020)
- Financial Institutions Urged To Work With Borrowers Impacted By COVID-19 (March 10, 2020)
Compensation & Employment
- Should Your Business Require COVID-19 Vaccination? (December 22, 2020)
- Webinar: Compensation & Employment Update (November 19, 2020)
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Labor & Employment Litigation Risks Lurk Within Pandemic Chaos (October 14, 2020)
- School Is Open... Or Is It? (September 9, 2020)
- Compensation Committee Agenda Update (July 13, 2020)
- IRS CARES Act Retirement Plan Guidance (July 7, 2020)
- CDC Employer Information For Banks (July 2, 2020)
- Summer 2020 Compensation Committee Agendas (June 12, 2020)
- Is Your Business Ready to Reopen? (June 3, 2020)
- COVID-19 Considerations For Emergency PSL & Emergency FMLA (April 10, 2020)
- Compensation Limits For CARES Act Economic Stabilization Fund Loans (April 9, 2020)
- COVID-19 Considerations For Your Company’s 401(k) & Other Tax-Qualified Retirement Plans (March 27, 2020)
- COVID-19 – New Employer Obligations & Considerations (March 20, 2020)
Insurance Coverage
- COVID-19 Insurance Coverage Considerations (March 18, 2020)
Intellectual Property
- Trademark Modernization Act of 2020 (January 11, 2021)
- COVID-19 IP Deadline Extensions - June 1st (April 29, 2020)
- IP Deadline Extensions During COVID-19 (April 14, 2020)
Small Business
- Webinar: A Step-By-Step Guide on How to Participate in the $2 Trillion Coronavirus Aid Package (April 3, 2020)
- Chicago Small Business Resiliency Fund (March 20, 2020)
Tax & Business Planning
- When Are Expenses Funded By A PPP Loan Eligible For Deduction? (November 23, 2020)
- COVID-19 Optional Payroll Tax Deferral (September 10, 2020)
- Updated IRS Guidance On The PPP & Employee Retention Credit (May 12, 2020)
- COVID-19 Tax Developments (March 29, 2020)
External Resources
- Centers for Disease Control and Prevention (CDC): Coronavirus (COVID-19)
- Chicago Department of Public Health (CDPH): Coronavirus Response Center
- Conference of State Bank Supervisors (CSBS): Information on COVID-19 Coronavirus
- Federal Deposit Insurance Corporation (FDIC): Coronavirus (COVID-19) Information for Bankers and Consumers
- Federal Reserve System: Coronavirus Disease (COVID-19) Resources
- Illinois Department of Financial and Professional Regulation (IDFPR) – Resources for Illinois Residents Impacted by Coronavirus Disease 2019 (COVID-19)
- Illinois Department of Public Health (IDPH): Coronavirus Disease 2019 (COVID-19)
- Internal Revenue Service (IRS): Coronavirus Tax Relief
- Minnesota Department of Health (MDH): Coronavirus Disease 2019 (COVID-19)
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National Conference of State Legislatures (NCSL): State Action on Coronavirus (COVID-19)
- Office of the Comptroller of the Currency (OCC): COVID-19 (Coronavirus)
- State of Illinois Executive Department: Executive Order in Response to COVID-19 (COVID-19 Executive Order No. 8)
- TAG Alliances®: COVID-19 (Coronavirus) Knowledge Center
- U.S. Chamber of Commerce (COC): Combating the Coronavirus
- U.S. Department of Labor (DOL) – Occupational Safety and Health Administration (OSHA): COVID-19
- U.S. Department of Labor (DOL) – Wage and Hour Division: COVID-19 and the American Workplace
- U.S. Equal Employment Opportunity Commission (EEOC): What You Should Know About the ADA, the Rehabilitation Act, and COVID-19
We Can Help
Please contact us if you would like to discuss any of these issues or if we can otherwise be of assistance.
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