Companies have talked for years about operational disruption and business continuity management (BCM), but few have contemplated an event like the COVID-19 pandemic. Businesses today find themselves facing an “extreme...
Archive - April 2020
Regulators Support CARES Act Forbearance by Offering Flexibility to Mortgage Servicers
As the COVID-19 pandemic continues to threaten the health of the nation, the preventive measures required to control its spread have imposed equal challenges to the health of the economy. The closing of non-essential...
Credit Reporting During COVID-19: Loan Accommodations, the CARES Act and Amended FCRA Requirements
Imagine a scenario whereby your livelihood is upended by the COVID-19 pandemic. You are a retail store clerk, a flight attendant, a bartender, an owner of a “non-essential” small business, a sales representative, or any...
Treasury Department Issues More Detailed Guidelines for Small Business Paycheck Protection Program (updated May 4, 2020)
The Coronavirus Aid, Relief, and Economic Security (CARES) Act that was signed into law last Friday offers a lifeline to small businesses and sole proprietors (generally those with 500 or fewer employees) in the form of...
COVID-19 Impacts on Accounting, Reporting and Internal Controls
The coronavirus 2019 (COVID-19) pandemic has brought major disruptions worldwide, with further impacts yet to be felt. For many businesses, operations are curtailed or dramatically shifted, and supply chains are...