PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, January 13, 2020
January 13, 2021
By Paul Hastings Professional
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PH Client Alerts
Click here to read more from our Coronavirus series.
Congress
Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.
Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.
Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.
Click here to view the full text of the Consolidated Appropriations Act, 2021, Enacted December 27, 2020.
Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services, and House Committee on Small Business.
Federal Agencies
Federal Reserve Bank of New York
Heterogeneity Series V: Understanding the Racial and Income Gap in COVID-19
January 12, 2021
The Federal Reserve Bank of New York’s Liberty Street Economics blog launched a four-part series that seeks to understand why low-income and majority-minority areas were considerably more affected by COVID-19, as captured by markedly higher case and death rates.
- Part 1 (Health Insurance, Comorbidities, and Medical Facilities)
- Part 2 (Public Transportation and Home Crowding)
- Part 3 (Social Distancing, Pollution, and Demographics)
- Part 4 (Essential Workers)
Federal Reserve Bank of Boston
Speech: The Economic Outlook – Optimism Despite the Challenges Ahead
January 12, 2021
Eric Rosengren, President and Chief Executive Officer of the Federal Reserve Bank of Boston, gave a speech titled “The Economic Outlook – Optimism Despite the Challenges Ahead.” Mr. Rosengren discusses COVID-19’s impact on the economy and the economic outlook for 2021.
U.S. Small Business Administration
Webinar about New Grant Program for Live Venues, Cultural Institutions & Related Industries
January 12, 2021
The U.S. Small Business Administration is conducting a webinar on January 14, 2021 at 3 p.m. Eastern, for an overview of the Shuttered Venue Operators Grant program included in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. Eligible organizations with a reduction in revenue due to the COVID-19 pandemic will have the opportunity to receive up to a $10 million grant under the program.
International
Bank of England
Speech: COVID and the Composition of Spending
January 12, 2021
Ben Broadbent, Deputy Governor, Monetary Policy at the Bank of England, gave a speech titled “COVID and the Composition of Spending.” Mr. Broadbent discusses how COVID has changed the spending habits of households, and he explores what this may mean for costs and inflation.