Weekly Regulatory Deadlines | April 22 to April 28
SBA to Face Big Challenges Ensuring Loans Aren't Misspent
The Wall Street Journal 04/28/2020
The Small Business Administration’s $670 billion pandemic aid package lacks one of its usual bulwarks against fraud and improper spending, which could strain efforts to make sure the money is spent appropriately...
Mnuchin: Small business coronavirus loans above $2M will be audited
The Hill 04/28/2020
Treasury Secretary Steven Mnuchin said Tuesday that the Trump administration will audit every company that receives an emergency coronavirus loan from the Small Business Administration (SBA) greater than $2 million...
Bank Regulators Urge ‘Risk-Based’ Approach To AML Exams
Law 360: Banking 04/17/2020
U.S. banking regulators are urging Bank Secrecy Act and anti-money laundering examiners to tailor exams to the individual risk profiles of banks amid the uncertainty caused by COVID-19...