With $349 Billion in Emergency Small Business Capital Cleared, Treasury and SBA Begin Unprecedented Public-Private Mobilization Effort to Distribute Funds

WASHINGTON – Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they […]

Treasury Encourages Businesses Impacted by COVID-19 to Use Employee Retention Credit

WASHINGTON – The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll.  The refundable tax credit is 50 percent of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. “We encourage businesses […]

Treasury Delays Tax and Reporting Due Dates for Alcohol, Tobacco, Firearms and Ammunition Businesses Hit by COVID-19

WASHINGTON – The Treasury Department is delaying tax payment due dates for wine, beer, distilled spirits, tobacco products, firearms, and ammunition excise taxes, to provide flexibility for businesses that have been negatively affected by COVID-19. “Many businesses regulated by the Alcohol and Tobacco Tax and Trade Bureau (TTB) have been adversely impacted by the COVID-19,” […]

Joint Statement on the Interaction of the CECL Revised Transition Interim Final Rule with Section 4014 of the Coronavirus Aid, Relief, and Economic Security Act

FIL-32-2020 March 31, 2020 Joint Statement on the Interaction of the CECL Revised Transition Interim Final Rule with Section 4014 of the Coronavirus Aid, Relief, and Economic Security Act Printable Format: FIL-32-2020 – PDF (PDF Help) Summary: This joint statement clarifies the interaction between the interim final rule that provides a five-year transition period for […]

FTC Announces September 22 Workshop on Data Portability

The Federal Trade Commission will host a public workshop on September 22, 2020, to examine the potential benefits and challenges to consumers and competition raised by data portability. Data portability gives consumers more control over their data, allowing them to move data—such as emails, contacts, calendars, financial information, health information, favorites, friends, or content posted […]

FTC Data Shows Jump in Coronavirus-related Complaints from Consumers

Consumer complaints to the Federal Trade Commission related to the coronavirus (also known as COVID-19) have surged in recent weeks. Since the beginning of the year, the FTC has received more than 7,800 coronavirus-related reports from consumers, double what they were about a week ago. The top categories of coronavirus-related fraud complaints include travel and […]

BRP PROVIDES AN UPDATE ON THE STATUS OF ITS OPERATIONS AMID COVID-19

Valcourt, Quebec, March 30, 2020 – BRP Inc. (TSX:DOO; NASDAQ:DOOO) has announced that, due to the rapid evolution of the COVID-19 situation, we are temporarily suspending or slowing down all our powersports and marine manufacturing operations around the world. These actions are being taken to allow us to evaluate and respond to the changing conditions, […]

OCC Reports Fourth Quarter 2019 Bank Trading Revenue

News Release 2020-45 | March 30, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $7.2 billion in the fourth quarter 2019, which was $4.0 million, or 0.1 percent, less than the previous quarter. In the report, Quarterly Report on […]

OCC Hosts Mutual Savings Association Advisory Committee Meeting April 21 Via Teleconference

News Release 2020-44 | March 30, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, April 21, 2020, via teleconference. The teleconference is open to the public and will begin at 10:00 a.m. Eastern […]

Treasury Releases Guidance on Payroll Support to Aid Airline Industry Employees, and on Loans to Airline Industry and Businesses Critical to National Security, Pursuant to CARES Act

Steven Terner Mnuchin was sworn in as the 77th Secretary of the Treasury on February 13, 2017. As Secretary, Mr. Mnuchin is responsible for the U.S. Treasury, whose mission is to maintain a strong economy, foster economic growth, and create job opportunities by promoting the conditions that enable prosperity at home and abroad. Read More […]