Recent Publications - Banking
March 27, 2020 |
As we have previously reported, on March 18, 2020 President Donald J. Trump signed the Families First Coronavirus Response Act (FFCRA). The FFCRA provides for two leave requirements arising in different portions of the Act:
- The right to Public Health Emergency Leave, which amends the existing statutory text of the Family and Medical Leave
March 27, 2020 |
After this article was published, New York Governor Andrew Cuomo issued an executive order clarifying this issue. According to the order, due to the coronavirus pandemic, until April 19, 2020, companies incorporated in New York are permitted to hold virtual-only shareholder meetings. The executive order temporarily provides relief from the portions of subsection (a)Read More
March 25, 2020 |
On March 21, 2020, Governor Cuomo issued Executive Order 202.9, which is in effect through April 20, 2020. The order provides financial relief to consumers and businesses with outstanding bank loans.
The order modifies subdivision two of Section 29 of the Banking Law to provide that it is an “unsafe and unsound” business practice ifRead More
March 20, 2020 | |
As the coronavirus pandemic continues to cause disruptions to businesses, the U.S. Small Business Administration (SBA) has announced its Coronavirus (COVID-19) Disaster Relief Lending program, which will offer certain small businesses and nonprofits affected by COVID-19 access to the SBA’s Economic Injury Disaster Loans.
As of today, small business owners in New York State areRead More
March 20, 2020 |
Governor Cuomo issued Executive Order 202.8 directing all non-essential businesses statewide to reduce in-office staff by 100% until further notice. This includes bars and restaurants that have been directed to close its’ doors and operate on a limited take-out only basis.
The closures and 100% reduction of in-office staff is part of Governor Cuomo’s 10-pointRead More
March 19, 2020 |
President Trump on March 18, 2020, signed the Families First Coronavirus Response Act (COVID-19 Bill) to provide emergency relief to businesses and employees in response to the coronavirus pandemic. The COVID-19 Bill will become effective no later than 15 days from March 18, 2020 (or on April 2, 2020). Businesses with fewer than 500 employeesRead More
March 19, 2020 |
In response to the growing concerns over the coronavirus, (COVID-19) Governor Cuomo issued a temporary mandatory work-force reduction plan (Executive Order) and signed a COVID-19 relief bill (COVID-19 Bill).
COVID-19 Executive Order
The Executive Order mandates that all non-essential businesses implement work from home policies and reduce in-office staff by 50%. In fact, as weRead More
March 18, 2020 | |
Part of the commitment to entering into a contract includes an agreement between parties to perform contractual obligations on a timely basis, with limited exceptions. Contracts frequently include a provision titled “force majeure,” which translates literally from French to mean “superior force.”
Force majeure provisions, generally part of the boilerplate section of a contract andRead More
January 14, 2019 |
Michael Heller’s article, “New York’s Mortgage Tax Rules Burden Banks and Borrowers. But There’s a Solution” was published in Pratt’s Banking Law Journal.
Click here to read the article.Read More
June 27, 2018 | |
Due to a recent Supreme Court decision, internet sellers may now be required to collect and remit sales taxes in states in which they have no physical presence.
In the landmark case of South Dakota v. Wayfair, Inc., decided on June 21, the Court overturned its prior decisions that had provided that an out-of-state sellerRead More
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