The Los Angeles Lakers and the Paycheck Protection Program: U.S. Treasury Secretary Mnuchin Calls Flagrant Foul and Pledges Full Audits for Larger Loans
The Los Angeles Lakers, one of the most valuable sports franchises in the world, returned to the front page this week despite the suspension of the NBA season, and there are important repercussions for participants in the Paycheck Protection Program (“PPP”).
Paycheck Protection Program Update: SBA Issues New Guidance Emphasizing Eligibility Requirements
In an apparent response to controversy related to public companies and larger concerns obtaining Paycheck Protection Program (“PPP”) loans, the Small Business Administration, in consultation with the Treasury Department, today issued additional guidance intended to underscore that loan requests must be necessary based on the actual economic need of the borrower.
OSHA Recognizes Employers’ Good Faith Efforts
On April 16, 2020, OSHA issued a new enforcement policy that acknowledges the difficulties faced by employers in complying with certain OSHA standards due to the COVID-19 pandemic.
Updated CDC Guidance for Essential Workers
On April 8, 2020, the Center for Disease Control and Prevention (“CDC”) provided updated guidance for COVID-19 exposed employees for essential businesses, such as groceries, hospitals, and first responders.
Healthcare Fraud and Abuse Laws are Relaxed During COVID-19
In response to the global COVID-19 pandemic, on March 30, 2020, the Secretary of the Department of Health and Human Services (HHS) issued nationwide blanket waivers of sanctions under the federal physician self-referral law (Stark Law) for “COVID-19 Purposes” (Blanket Waivers).
SBA Issues Interim Final Rule for Paycheck Protection Program
Provisions of the Paycheck Protection Program of the Coronavirus/COVID-19 economic relief legislation remain subject to change. On Thursday, April 2, 2020, the SBA issued a 31-page interim final rules to update and clarify the existing requirements. The content of this article is current as of Tuesday, April 7, 2020.
Small Businesses Can Take Advantage of the SBA COVID-19 Economic Injury Disaster Loans
CARES Act – Relief for Small Businesses
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act of 2020 (the “CARES Act” or “Act”) passed and was signed – it is the largest economic aid package in United States history.