The outbreak of the current novel coronavirus (also known as COVID-19) has caused significant and wide-ranging disruptions to business and economic activity worldwide. These disruptions have similarly impacted global financial markets and financial reporting. By most accounts, the fund finance markets have seen increased activity notwithstanding (or because of) COVID-19 in the first months of 2020.1 While the long-term impacts of COVID-19 on global financial markets are unknown, there are a few immediate issues that […]

Since April 2020, more than 5,400 lenders across the United States have faced common challenges arising from the Paycheck Protection Program (“PPP”). Participating lenders have been charged with interpreting a slew of evolving regulatory guidance while vetting millions of borrower applications. Participating lenders have also been tasked with responding to information requests from Congress, federal regulators and law enforcement authorities investigating potential fraud and abuse in the emergency loan program. Yet another challenge looms […]