On April 9, 2020, the Federal Reserve Board issued an immediately effective, interim final rule updating banking regulations to neutralize the regulatory capital effects of participating in the Paycheck Protection Program...more
On April 9, 2020, the Federal Reserve announced the details of the Main Street Lending Program (the Program), which is a lending program authorized by the CARES Act for purposes of supporting the economy during the COVID-19...more
4/10/2020
/ CARES Act ,
Comment Period ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Financial Stimulus ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Relief Measures ,
SBA ,
Special Purpose Vehicles ,
Term Sheets ,
U.S. Treasury
Late on Friday, April 3, the Small Business Administration (SBA), responsible for administering the Paycheck Protection Program under the recently enacted Coronavirus Aid, Relief, and Economic Security Act (CARES), issued...more
The Department of Labor (DOL) has once again updated its frequently asked questions to clarify questions related to employee rights and employer obligations under the Families First Coronavirus Response Act (the Act). Some of...more
Late on April 6, 2020, the Department of the Treasury and the Small Business Administration (SBA) jointly issued additional guidance in the form of FAQs addressing key points under the Paycheck Protection Program (Program)....more
4/7/2020
/ Affiliated-Business Arrangements ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Employee Retention ,
Executive Compensation ,
Federal Loans ,
Financial Stimulus ,
Health Insurance ,
Lenders ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Shareholders ,
Small Business ,
Stocks ,
Tax Relief
The Department of Labor (DOL) continues to provide guidance concerning an employer’s obligations under the Families First Coronavirus Response Act (the Act). Key issues have now been addressed, significantly including the...more
As many are preparing to submit applications for Small Business Administration (SBA) loans under the Paycheck Protection Program in the CARES Act (the “Program”), the SBA has released guidance in the form of an “Interim Final...more
On March 31, 2020, the Treasury Department and Small Business Administration (SBA) released guidance for prospective borrowers and lenders under the Paycheck Protection Program (the “Program”) created by the Coronavirus Aid,...more
On April 1, 2020,—the very day the paid leave requirements in the Families First Coronavirus Response Act became effective—the Department of Labor (DOL) provided much-anticipated regulatory guidance. The DOL did so by...more
Employers have continued to struggle with questions over how to implement the paid sick leave and paid expanded FMLA requirements of the Families First Coronavirus Response Act (FFCRA), which becomes effective April 1....more
Paycheck Protection Program Loans and Medicare Advance Payments -
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was enacted in the wake of the COVID-19 outbreak. The Cares Act provides...more
4/1/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Federal Loans ,
Financial Stimulus ,
Health Care Providers ,
Lenders ,
Medicaid ,
Medicare ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tax Relief ,
Unemployment Insurance
On March 25, Gov. Bill Lee issued the following executive order restricting the provision of all (i) non-emergency dental and oral procedures (like hygiene visits and cosmetic procedures)...
...more
As you may know by now, the newly enacted Families First Coronavirus Response Act provides that employers may exclude health care providers and emergency responders from taking newly provided paid sick leave or expanded FMLA...more
Early on March 25, 2020, the Administration and Senate Republican and Democrat leaders reached agreement on key terms of the proposed Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Senate passage is...more
Late yesterday (March 24, 2020), the Department of Labor issued the first of its anticipated guidance concerning the paid leave obligations in the newly enacted Families First Coronavirus Response Act. While the guidance...more
Last evening, Gov. Bill Lee issued Executive Order No. 15 which, among other critical actions, sets forth a number of significant health care-related provisions summarized below for the benefit of our health care...more
On March 19, 2020, Tennessee Gov. Bill Lee issued an Executive Order addressing a wide variety of topics. As to unemployment compensation, the governor suspended certain statutory provisions:
to allow for unemployment...more
The newly enacted Families First Coronavirus Response Act fundamentally amends the Family and Medical Leave Act and also enacts the Emergency Paid Sick Leave Act. The basic result of these two new laws is to provide employees...more
3/21/2020
/ Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Paid Leave ,
Paid Sick Leave Act ,
Reinstatement ,
Sick Leave ,
Sick Pay ,
Tax Credits ,
Unpaid Leave
In an attempt to address the effect of the COVID-19 pandemic on the nation’s workforce, the US House of Representatives passed legislation over the weekend addressing the COVID-19 pandemic. This legislation, which the Senate...more
After passing the Families First Coronavirus Response Act early Saturday morning, the House of Representatives sent the bill to the House Clerk for “technical corrections.” The stated purpose was to permit the clerk to...more
Since 2004, the salary-basis test for determining an employee's exempt status under the Fair Labor Standards Act has been fixed at $455 per week. The U.S. Department of Labor issued regulations that were set to go into effect...more
Clients often contact our team for practical advice on how to avoid catastrophic workplace injuries and fatalities. This call unfortunately typically comes AFTER THE BAD THING HAS HAPPENED. At that point, the client is...more
A federal district court in Texas has issued a nationwide preliminary injunction prohibiting the Department of Labor from implementing its revised overtime rule, which was scheduled to take effect December 1. The final rule...more
Last night, the Department of Labor (DOL) announced that today it is finalizing its new overtime rules under the Fair Labor Standards Act. DOL states that the Final Rule will become effective on December 1, 2016, "giving...more
We’ve previously written about the well-publicized guns-in-parking-lots law and the confusion over whether the law impacts the employer-employee relationship. The law was passed in 2013 to allow employees with handgun carry...more