Financial services regulatory expectations for COVID-19: #3

Financial services regulatory expectations for COVID-19

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Recent responses by federal and state regulators and agencies address a broad array of regulatory requirements and reflect the issuance of guidance for new requirements under the CARES Act (notably the SBA’s PPP), increased flexibility for financial institutions to implement certain rules (such as in option to defer the regulatory impact of CECL or to accelerate the SA-CCR), a grace-period for filing select regulatory reports, and delayed implementation for new rulemakings. All of these changes will continue to force executional strain on operations and compliance. Please contact us if we can assist in any way.

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