In light of the FDIC takeover of Silicon Valley Bank (SVB), many of our startup, growth company, and fund clients have asked about how to manage their obligations to pay their team members during a period when the company’s...more
3/13/2023
/ Criminal Liability ,
Emerging Growth Companies ,
Fair Labor Standards Act (FLSA) ,
FDIC ,
Financial Institutions ,
Frozen Assets ,
Furloughs ,
Lenders ,
Non-Exempt Employees ,
Payroll Expenses ,
Startups ,
Wages
Background: On March 27, 2020, the U.S. House of Representatives passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the CARES Act), which the President subsequently signed it into law. The CARES Act...more