News & Analysis as of August 9, 2025

New Guidance

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The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -

President Trump Takes Action to Ensure Fair Banking for All Americans

Amundsen Davis LLC on 8/8/2025

On August 7, 2025, President Donald J. Trump signed an executive order titled “Guaranteeing Fair Banking for All Americans.” The order asserts that financial institutions have restricted the access of individuals and...more

SBA's Guidance on Requests to Honor SBA's Guaranty of PPP Loan

Miller Canfield on 7/22/2021

The SBA recently issued its Procedural Notice on when a lender may request the SBA to honor its guaranty of a PPP loan. The PPP loan program has been in place for over a year and has provided billions of dollars of assistance...more

Nutter Bank Report: March 2021

Nutter McClennen & Fish LLP on 3/30/2021

Federal Reserve Issues New Guidance on Managing the LIBOR Transition - The Federal Reserve has issued guidance on how examiners will assess a banking organization’s progress in preparing to transition to a replacement rate...more

SBA and Treasury Department Issue New Guidance on PPP

Goodwin on 1/15/2021

In this Issue. The Office of the Comptroller of the Currency (OCC) issued guidance on its authority to charter limited purpose trust companies, raising the possibility that a limited purpose national bank could be organized...more

SEC Charges Trust Company With Operating Unregistered Investment Companies

Goodwin on 10/8/2020

SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

Financial Services Weekly Roundup: Gone Phishing – The SEC’s OCIE Addresses Ransomware Attacks

Goodwin on 7/16/2020

In This Issue. The Securities and Exchange Commission (SEC) adopted amendments to its exemptive applications procedures under the Investment Company Act of 1940, as amended (the 1940 Act) and proposed to amend Form 13F to...more

Financial Services Weekly Roundup: SBA Provides Guidance On Borrower’s Good Faith Certification

Goodwin on 5/14/2020

In This Issue. The Small Business Administration (SBA) provided guidance on a borrower’s good faith certification on the necessity of Paycheck Protection Program (PPP) loan requests, announcing a safe harbor regarding this...more

Financial Services Weekly Roundup: May Introduces Additions And Expansions To Covid-19-related Policies

Goodwin on 5/7/2020

In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to non-bank lenders and expanded the collateral eligible to...more

Financial Services Weekly Roundup: PPP Borrowers And Lenders Under The Microscope

Goodwin on 4/30/2020

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule that would establish a revised framework for the fair value determination for purposes of the Investment Company Act of 1940 and have...more

Financial Services Weekly Roundup: Priming The Pump – Additional Actions To Combat COVID-19

Goodwin on 4/16/2020

Priming the Pump. As the COVID-19 outbreak continues, the Board of Governors of the Federal Reserve System (Federal Reserve), consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), took additional...more

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