Vedder Price

Resources for Financial Institutions

The developing COVID-19 pandemic has already had a significant effect on the business and operations of financial institutions on a global scale. As central banks and federal and state banking regulators continue to react to the crisis and issue updated guidance, financial institutions are seeking to develop and implement strategies to mitigate the effects of the pandemic on their business.

Vedder Price’s Financial Institutions Group has engaged in numerous discussions with banks on various strategies and considerations that are being reviewed or implemented during this uncertain time. This page has been set up to help financial institutions stay current with the myriad legal considerations associated with the pandemic. As regulators issue further guidance, and new developments take shape, we will update this list with our latest client bulletins and links to the most current external resources.

Related Vedder Thinking:

May 26, 2020 | Publication
UPDATE: SBA Issues Interim Final Rules Concerning Loan Forgiveness and Loan Review Procedures

May 19, 2020 | Newsletter/Bulletin
SBA Issues PPP Loan Forgiveness Application 

April 27, 2020 | Newsletter/Bulletin
Board Oversight in the Age of COVID-19: Part Six 

April 20, 2020 | Newsletter/Bulletin
Board Oversight in the Age of COVID-19: Part Five 

April 13, 2020 | Newsletter/Bulletin
Board Oversight in the Age of COVID-19: Part Four

April 11, 2020 | Newsletter/Bulletin
The Federal Reserve Provides Liquidity to Banks Participating in the Paycheck Protection Program

April 9, 2020 | Newsletter/Bulletin
Paycheck Protection Program Loans May Be Excluded from a Bank’s Regulatory Capital Ratios 

April 8, 2020 | Newsletter/Bulletin
COVID-19 FINRA Guidance and Regulatory Relief

April 8, 2020 | Newsletter/Bulletin
CARES Act Provisions Affecting the Asset Management Industry

April 7, 2020 | Newsletter/Bulletin
Board Oversight in the Age of COVID-19: Part Three

April 7, 2020 | Newsletter/Bulletin
Temporary Regulatory Relief: Community Bank Leverage Ratio Set At 8%

April 4, 2020 | Newsletter/Bulletin
Interim Rule Issued – Paycheck Protection Program

April 3, 2020 | Newsletter/Bulletin
CARES Act Provisions Affecting Employee Benefit Plans

March 31, 2020 | Newsletter/Bulletin
Board Oversight in the Age of COVID-19: Part Two

March 31, 2020 | Newsletter/Bulletin
Business Considerations: CARES Act Corporate Governance, Compensation and Employee-Related Obligations

March 28, 2020 | Newsletter/Bulletin
Key Tax Provisions Affecting Businesses Contained in the CARES Act

March 28, 2020 | Newsletter/Bulletin
The CARES Act: What Does It Mean for Financial Institutions?

March 25, 2020 | Newsletter/Bulletin
Federal Reserve Suspends Regulatory Examination Activity for Banks with Total Consolidated Assets Under $100 Billion 

March 25, 2020 | Newsletter/Bulletin
COVID-19 and MAC in Financing Agreements

March 24, 2020 | Publication
Vedder Price Financial Institutions Attorneys Co-Author Article on the Impact of COVID-19 on Banks in Bank Director

March 23, 2020 | Newsletter/Bulletin
Board Oversight of COVID-19 Related Matters

March 23, 2020 | Newsletter/Bulletin
COVID-19, “Force Majeure” Clauses and Contractual Nonperformance

March 19, 2020 | Newsletter/Bulletin
Coronavirus Update: Strategies and Considerations for Financial Institutions

March 20, 2020 | Newsletter/Bulletin
Conducting Layoffs and Furloughs Resulting From COVID-19 Business Impact

March 19, 2020 | Newsletter/Bulletin
Emergency Paid Sick Leave Enacted

March 16, 2020 | Newsletter/Bulletin
House Acts to Protect Employees Affected by COVID-19

March 6, 2020 | Newsletter/Bulletin
Preparing Your Workplace to Address Coronavirus Risks: FAQs for Employers

March 5, 2020 | Newsletter/Bulletin
Coronavirus Considerations for Financial Institutions

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Important External Resources:


Interagency Statements/Joint Releases of the Federal Bank Regulators

Board of Governors of the Federal Reserve System

Federal Deposit Insurance Corporation

Office of the Comptroller of the Currency

Consumer Financial Protection Bureau

Federal Housing Finance Agency

State of Illinois

Illinois Department of Financial and Professional Regulation

Juan M. Arciniegas

James M. Kane

Jennifer Durham King

Daniel C. McKay, II

James W. Morrissey

Mark C. Svalina