PPP funds dwindling:
Banking trades urge Congress to increase funding

Even with systems' challenges and guidance in the first 10 days of the Paycheck Protection Program’s launch, it appears that the $349 billion earmarked for the program by Congress won’t be even close to enough to meet demand.

Existing funds could be fully allocated by the end of this week, but the Senate isn't expected to be able to act before Thursday.

In response, bank trade associations across the country sent a letter to House and Senate leaders calling for additional funding.

 
“Banks of all sizes are eager to provide much-needed funding to our nation’s small businesses,” the group wrote.

“While the Paycheck Protection Program has encountered challenges from the beginning, more than 4,600 lenders are participating. We call on Congress to expeditiously increase PPP funding to support lenders’ efforts, ensuring small businesses throughout our country have the opportunity to apply for and receive PPP loans.” 
Agencies to Temporarily Defer Appraisals, Evaluations for Real Estate Transactions

The federal banking agencies issued an interim final rule last night allowing financial institutions to temporarily defer appraisals and evaluations for residential or commercial real estate transactions for up to 120 days during the COVID-19 national emergency. This temporary relief will expire on Dec. 31, 2020.
 
The interim final rule—which takes effect upon publication in the Federal Register— does not apply to real estate acquisition, development and construction loan transactions.

Avoiding and effectively dealing with lender liability litigation during a downturn

This webinar will focus on measures lenders can take to avoid, minimize, and effectively deal with claims and litigation from borrowers, guarantors, competing lienholders and others. Topics for discussion will include:

  • Identifying loans, borrowers, and collateral likely to produce litigation
  • Best practices for loan forbearance, modification, and workout negotiations and documentation
  • Common lender liability claims and defenses 
  • Best practices for record preservation and discovery

When: April 23 from 10-11 a.m.
Presenter: Scott Sandberg, attorney, Spencer Fane LLP
Price : $50 members $75 non members
Colorado banks have made 28,469 PPP loans amounting to $5.8 billion dollars.
 
Across the country, more than one million loans have been made, totaling $247.5 billion dollars, via 4,664 lenders.
Deb Bayles Stinson
FREE webinar series on PPP program continues Friday

CBA on Friday will continue hosting its open forum series to give bankers an opportunity to ask questions related to the PPP program.


Bank attorneys and experts will be on-hand to to provide the most information they are able, although we know not every question can yet be answered. Additional guidance and details from SBA are still awaited.

Future forums will continue on Tuesdays and Fridays at 10 a.m. through the month of April. Below is the link to join the meeting.

Join Zoom Meeting: https://zoom.us/j/706624572
Meeting ID: 706 624 572
Dial by phone: 1 669 900 6833 |
Meeting ID: 706 624 572
Paycheck Protection Program (PPP)

This webinar will answer key questions regarding the Paycheck Protection Program (PPP) eligibility, terms, applications and other related topics.

Speakers will include: Darlia Fogarty, President Compliance Alliance and Elizabeth Madlem, Associate General Counsel for Compliance Alliance

April 17 1 p.m.
Price: Free


To help guide the CBA Board of Directors, please take a couple minutes as your bank’s CEO (or designee) to complete this questionnaire regarding the industry's response to, and experience with COVID-19 lending.
ADA Litigation webinar
Your bank is still at risk

Banks remain vulnerable to litigation related to website and physical accessibility for Americans with disabilities and laws enacted to protect them.

Banks are vulnerable to these lawsuits, experts say, because they operate websites and mobile applications that promote products and services as well as let consumers conduct transactions. 

Attorney Ryan Sugden, with CBA associate member law firm Stinson, will provide information on how banks can address or insulate themselves from potential violation.

When:  Thursday, April 16, 9 a.m.
Presenter : Ryan Sugden, attorney, Stinson
Price : Free
Colorado Bankers Association
303-825-1575 | 303-825-1585