FinCEN Notice
By: Julie on June 9, 2020
Financial Crimes Enforcement Network (FinCEN) released a┬ánotice on May 18, 2020 in response to reporting requirements as they relate to COVID-19. The COVID-19 pandemic has left many of us vulnerable. It is important now more than ever to report suspicious activity to combat financial crimes. BSA REPORTING OBLIGATIONS FinCEN expects financial institutions to adhere to their Bank Secrecy Act (BSA)… Read More
Payment Protection Program
By: Julie on April 13, 2020
Keep Your Employees on Payroll and Help Cover Operating Costs During COVID-19 The CARES Act Paycheck Protection Program (PPP) is providing a loan option for small businesses through the Small Business Administration (SBA). HOW TO APPLY Apply with a participating lender that you have a business bank account relationship with ELIGABILITY Businesses with less than 500 employees Were in business… Read More
COVID-19 Relief
By: Julie on April 1, 2020
Relief for Financial Services Centers & Employees On March 27, 2020, President Trump signed a $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act relief bill that will provide support to those that are experiencing hardships due to COVID-19. The CARES Act includes: Direct payments ($1,200/individuals, $2,400/family, $500/child) to individuals at specified income level thresholds Expansion of unemployment insurance… Read More
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