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U.S. House Subcommittee Holds Hearing on the Oversight of the Federal Trade Commission

U.S. House Subcommittee Holds Hearing on the Oversight of the Federal Trade Commission On May 8, 2019, the Chairman and four Commissioners from the Federal Trade Commission testified in front the Subcommittee on Consumer Protection and Commerce in a hearing entitled, “Oversight of the FTC: Strengthening Protections for Americans’ Privacy and Data Security.” The FTC’s…

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U.S. House May Consider PPP Reform Stand-alone Bill

U.S. House May Consider PPP Reform Stand-alone Bill Congressman Dean Phillips (D-MN) and Congressman Chip Roy (R-TX) introduced H.R. 6886, the Paycheck Protection Flexibility Act. The bipartisan bill will make necessary changes to the Paycheck Protection Program (PPP) as business owners nationwide have expressed concerns with the program. The legislation will: Allow forgiveness for expenses…

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DOL Announces Final Rule to Expand Access to Bonuses for Workers

DOL Announces Final Rule to Expand Access to Bonuses for Workers The U.S. Department of Labor (DOL) held a background briefing regarding a final rule that allows employers to offer bonuses or other incentive-based pay to employees whose hours vary from week to week. Per the DOL, the final rule clarifies that payments in addition…

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U.S. Senate Committee Holds Remote Hearing on CARES Act

U.S. Senate Committee Holds Remote Hearing on CARES Act   U.S. Senate Committee on Banking, Housing, and Urban Affairs convened a remote hearing today entitled “The Quarterly CARES Act Report to Congress.” In his opening statement U.S. Department of Treasury Secretary Steven Mnuchin stated that the Department has “worked closely with the[U.S.] Small Business Administration…

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Department of Treasury and SBA Release Loan Forgiveness Application

Department of Treasury and SBA Release Loan Forgiveness Application The U.S. Small Business Administration is working in conjunction with the U.S. Department of Treasury on the implementation of the Paycheck Protection Program (PPP). The PPP was established under H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, in response to the ongoing COVID-19…

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SBA PPP Repayment Deadline May 18

SBA PPP Repayment Deadline May 18 In a interim rule, the U.S. Small Business Administration (SBA) provided that any borrower who applied for a PPP loan and repays the loan in full by May 14, 2020 will be deemed by SBA to have made the required certification concerning the necessity of the loan request in…

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House Committee on Small Business Holds Online Forum

House Committee on Small Business Holds Online Forum The U.S. House Committee on Small Business held an online forum with Small Business Administration (SBA) lenders to discuss the Paycheck Protection Program (PPP) and future efforts. Throughout the online forum, similar sentiments were expressed from members of Congress and panelists praising the work done thus far…

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Treasury Dept. Updates PPP FAQ Sheet

Treasury Dept. Updates PPP FAQ Sheet The U.S. Small Business Administration is working in conjunction with the U.S. Department of Treasury on the implementation of the Paycheck Protection Program (PPP). The PPP was established under H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, in response to the ongoing COVID-19 pandemic. The SBA…

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Automotive Aftermarket Associations Urge Congressional Leaders to Oppose Cash for Clunkers Program

Automotive Aftermarket Associations Urge Congressional Leaders to Oppose Cash for Clunkers Program Major automotive aftermarket associations, including the Auto Care Association, Tire Industry Association and Service Station Dealers of American and Allied Trades, the Automotive Oil Change Association, and the Automotive Service Association, sent a letter to Congressional leaders in opposition of a new “Cash…

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House Democratic Leadership Releases COVID-19 Fourth Stimulus Package

House Democratic Leadership Releases COVID-19 Fourth Stimulus Package The U.S. House of Representatives Democratic leadership unveiled the COVID-19 fourth stimulus package. The House is expecting to vote on the package on Friday. The bill also makes changes to the Paycheck Protection Program (PPP), including expansions to the types of organizations that are eligible for the…

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