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

FAQs on the PPP (Updated: June 24, 2020)
- Original Client Alert (April 6, 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)
- In-Depth: Bank Regulatory COVID-19 Loan Guidance Takeaways
Top 10 Considerations for Pandemic Responsiveness (March 19, 2020)
- In-Depth: Top 10 Considerations For Pandemic Responsiveness
10 Steps For Following Regulators’ COVID-19 Guidance While Still Protecting Your Bank (March 17, 2020)
- In-Depth: 10 Steps For Following Regulators’ COVID-19 Guidance
Webinar: Is Your Bank's Pandemic Contingency Plan Ready for Implementation? (March 12, 2020)
- Webinar Overview
Financial Institutions Urged To Work With Borrowers Impacted By COVID-19 (March 10, 2020)

Compensation & Employment

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)
- COVID-19 Employee Leave Requirements & Documentation
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)
- In-Depth: COVID-19 Retirement Q&A
COVID-19 – New Employer Obligations & Considerations (March 20, 2020)
- In-Depth: COVID-19 – New Employer Obligations & Considerations

Insurance Coverage

COVID-19 Insurance Coverage Considerations (March 18, 2020)

Intellectual Property

COVID-19 IP Deadline Extensions - June 1^st (April 29, 2020)

Small Business

Webinar: A Step-By-Step Guide on How to Participate in the $2 Trillion Coronavirus Aid Package (April 3, 2020)
- Webinar Overview
Chicago Small Business Resiliency Fund (March 20, 2020)

Tax & Business Planning

Updated IRS Guidance On The PPP & Employee Retention Credit (May 12, 2020)
COVID-19 Tax Developments (March 29, 2020)
- InDepth: CARES Act Tax Provisions

External Resources

We Can Help

Please contact us if you would like to discuss any of these issues or if we can otherwise be of assistance.