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By Shannon Raye Martinez, Attorney in the Creditor’s Rights & Bankruptcy and Litigation Practice Groups On May 6, 2020, the Consumer Financial Protection Bureau (CFPB) published a policy statement answering three questions relating to the Paycheck Protection Program (PPP). The policy statement clarifies when a creditor is required to provide notice to the loan applicant …
By Jeffrey G. Moore, Attorney in the Estate Planning & Probate Practice Group These are curious times. The COVID-19 has adversely affected almost everyone in one way or another. Those who have been financially affected and who own an Individual Retirement Account (“IRA”), the Coronavirus Aid, Relief, and Economic Security Act or “CARES Act,” which was …
By Nicole Burke and Caleb Williams, Attorneys in the Business & Taxation Law Practice Group On May 5, 2020, the Department of Treasury updated the PPP Frequently Asked Questions to announce it was extending the safe-harbor deadline for repayment of unneeded PPP loan proceeds to May 14, 2020. The original guidance provided that the safe …
By Joshua D. Feil, Attorney in the Litigation Practice Group On April 30, 2020, Oregon’s Department of Consumer and Business Services (“DCBS”) published Bulletin No. DFR 2020-2014 (the “Bulletin”) to provide guidance to Oregon-regulated collection agencies and debt purchasers to actively help debtors hit by the economic effects of the novel coronavirus. The Bulletin follows guidance issued at …
By Joshua D. Feil, Attorney in the Litigation Practice Group Earlier this month, we wrote about Oregon’s Department of Consumer and Business Services (“DCBS”)’s order (“Order”) suspending all cancellations and non-renewals in place as the date of the Order. The Order applies to all types of insurance coverage and provided that it would be in place through …
By Caleb Williams, Attorney in the Business & Taxation Law Practice Group Congress has approved additional funding for the Paycheck Protection loan program for small businesses. The action allocates an additional $310 billion to the program. The CARES Act, which created the loan program, allocated an initial $349 billion to fund PPP loans. That funding …
By Douglas Alexander, Attorney in the Business & Taxation Law Practice Group, and David Briggs, Attorney in the Employment Law and Litigation Practice Groups On March 20, 2020, Oregon Governor Kate Brown issued Executive Order No. 20-10 which required that Oregon healthcare providers (including both dental and medical providers) cease providing non-urgent care to their …
By Jennifer Paul, Attorney in the Employment Law, Litigation and Condemnation & Unconstitutional Takings Practice Groups Since the Families First Coronavirus Response Act (FFCRA) went into effect on April 1, 2020, there has been a push by government agencies to release regulations and guidance. The initial temporary rule was published on April 6, 2020, and …
By Shannon Martinez, Attorney in the Creditor’s Rights & Bankruptcy and Litigation Practice Groups On April 14, 2020, the FDIC, OCC and Federal Reserve issued an interim final rule that allows lenders to close certain real estate loans without an appraisal or evaluation. The lender will have 120 days after the loan closing to obtain …
By Joshua D. Feil, Attorney in the Litigation Practice Group As the COVID-19 pandemic continues to disrupt life all over the world, many people are now working from home, and many employers have been forced into the difficult decision to temporarily close and/or furlough their workers. In Oregon, these consequences have triggered the need for …