Associate Member Coronavirus Resource Library

From Accume Partners

We are living in unprecedented times and experiencing unprecedented business challenges. We are also hearing great stories of companies coming together to offer support, assistance, and resources. Accume Partners is taking an active role in providing information through our website.

We’ve added a complete Covid-19 Resource Guide to our website where we’re answering client questions and providing advice and direction regarding compliance questions that are emerging as well as security and the work from home environment
https://www.accumepartners.com/covid-19/
We've released a new Compliance Monthly Newsletter and Resource Calendar on our website
https://www.accumepartners.com/newsletter-type/compliance-monthly-newsletter/
https://www.accumepartners.com/collateral/
We’ve released a new AccumeView Newsletter – an Executive Cybersecurity update on our website
https://www.accumepartners.com/newsletter-type/accumeview-executive-cybersecurity-pulse

From Baker Tilly

The coronavirus (COVID-19) outbreak is affecting both individuals who get sick as well as organizations and industries worldwide. During this uncertain time, Baker Tilly is ready to help you with practical advice on informing and supporting your employees as well as keeping your business running.

Visit the Baker Tilly CORONAVIRUS PREPAREDNESS RESOURCE CENTER for a number of resources for community banks and small businesses.

From BKD LLP

As the country transitions to a recovery footing from COVID-19, we want to keep you updated on the economic big picture. BKD’s COVID-19 Recovery Dashboard is a dynamic data stream designed to provide a snapshot of the information that’s most important to you.

Whether you’re looking for local COVID-19 activity, unemployment rates, market response or industry metrics, the dashboard has it all in one convenient place to help you make informed decisions in real time. Click the link below to keep tabs on COVID-19 movement in your area and how it’s influencing your industry.

-----

BKD has created a COVID-19 Resource Center to help disseminate important information for our clients and friends as we evaluate ways to mitigate the inevitable financial effects. We’ll keep you up to date with relevant news, changing guidelines, new regulations and anything else we believe you need to know.

As part of our ongoing efforts to provide up-to-date guidance on the rapidly evolving COVID-19 pandemic, BKD is launching weekly webcasts every Thursday at 3pm eastern time, covering topics many businesses and individuals have been asking us. Visit BKD's COVID-19 Resource Center for more information.

From Burns White

As Burns White addresses the concerns raised by the pandemic, our office locations remain closed, but rest assured, your needs remain our top priority. Our team has mobilized—working remotely to continue to provide timely, high-quality legal counsel. Attorneys in all areas of the law are monitoring this dynamic situation closely to offer guidance on the frequent regulatory mandates and legal updates that may affect you and your business. If you are looking for information, COVID-19 updates are available on our homepage, and I encourage you to visit the page regularly to learn more about important legal changes. Please do not hesitate to contact us about any specific questions, concerns, or matters you may have.

As always, the people at Burns White are here to help you in any way we can. Together, we will weather this storm.

From Bybel Rutledge LLP

In a traditional in-person shareholder meeting, the board, management, and shareholders gather in a pre-determined location to conduct corporate business. A virtual meeting allows shareholders and company representatives to gather using virtual shareholder meeting services. No in-person attendance is available, but all the opportunities afforded to shareholder at a physical meeting are accessible virtually. A hybrid meeting involves a mixture of the traditional physical meeting and the new virtual meeting: shareholders and company representatives have the opportunity to attend either a physical meeting or a virtual one. A company must choose a virtual or hybrid meeting format that meets the respective exchange requirements, allows shareholders to exercise all the rights granted under the state of incorporation, and meets the requirements set forth by the company's articles and bylaws. Bybel Rutledge LLP has released the following legal alert: Virtual and Hybrid Shareholder Meetings In Extraordinary Times.

From CEIS Review Inc.

Over the past 8 weeks impacts of the actions taken to safeguard everyone from the virus and “flatten the curve” have forced many changes on both our personal and professional activities. As we begin the task to assess these changes and their potential impacts we need to also evaluate what tools are available to help with these evaluations.

CEIS Review has been a key partner to Community and Savings Banks since 1989. Through its team of experienced team of bankers we have been able to assist our clients through difficult economic periods and we are ready again to provide that assistance today. Our Loan Review and Stress Testing teams can provide expert alternative resources while institutions are focused on day to day operations. Our outputs are excellent resources for management to employ in the decision processes for portfolio management, risk rating analysis, reserve management and capital management.

Our remote capabilities have enabled CEIS Review to remain as a supportive function for Client Institutions.

Reach out today to discuss how CEIS Review may assist your Institution

From COCC

In these extraordinary times, COCC is proud to announce we are sending service fee rebate checks totaling approximately $1.9 million to all of our clients to our show appreciation for their dedication and service to their communities. COCC’s Board of Directors approved this rebate at its monthly Board meeting in April 2020. This rebate, which will be distributed among COCC’s core clients, represents approximately 20% of COCC’s fiscal year-end earnings in 2020.

This rebate comes in the midst of the COVID-19 crisis, which has tested our community banks and credit unions as they continue to innovate and serve their customers and members. For COCC Chief Executive Officer Richard A. Leone, these efforts underscore the strength and importance of community financial institutions.

“The leadership of our clients throughout the pandemic has been impressive and exceptional,” Mr. Leone stated. “Our clients’ commitment to innovative products and service within their communities is crucial to their customers and members as well as their local economies.”

Throughout our 53-year history, COCC’s cooperative structure has thrived with the success of both our company and our clients. Having experienced consistent financial success year after year, COCC shares our success with our clients, especially in this time of need within the communities of our clients. During this time, COCC has maintained its focus on customer service and product innovation, delivering new products and services to help our clients navigate through the pandemic all while having 95% of COCC employees working remote.

For follow up or questions, please contact Keith Arsenault at keith.arsenault@cocc.com.

-----

With the uncertainty we currently find ourselves in surrounding COVID-19, COCC has worked to ensure that our clients can continue their operations and bring stability to their communities. Throughout the COVID-19 crisis, COCC has been actively engaged with our clients to provide innovative solutions to the issues they face during the pandemic. COCC has remained focused on service and support providing our clients in many ways including:

A free and integrated PPP web app/loan workflow
Procedural enhancements specific to COVID-19
System support and guidance for loan deferrals and payment modifications
Remote access
Call center support
Customer messaging and digital campaigns
Proactive advice regarding security/fraud
Continuous education and training

This represents a sampling of the ways we have worked with our clients to help them better serve their communities. As the COVID-19 pandemic develops, we continue to undertake new initiatives to improve the operations of our clients.

For your convenience, we have launched a webpage to provide an overview of our response to the COVID-19 pandemic. As new developments arise, we will continue to update our COVID-19 Response page here. If you have any further questions please contact keith.arsenault@cocc.com.

From CSI

From Fiserv

Two PACB Associate Members - Fiserv and StreetShares - partner to provide a fully digital PPP loan application process with E-Tran electronic connection and submission. Here is a link to the demo of the application along with a pdf containing more explanation.

With the next round of PPP funding perhaps available as soon as Thursday or Friday, community banks way want to consider this turnkey process.

From Fitech

As you continue efforts to meet the needs your customers during these challenging conditions, your focus may turn to loan payment options—specifically, the ability to accept debit card payments.

Fitech, a preferred provider of the PACB Services, Inc, can give your institution the ability to process these payments over the phone and via your website—and they can have you fully functioning in as fast as one day.

This virtual banking solution benefits provides your bank with the ability to:

Securely accept payments over the phone or via your website
Establish recurring payments
Lower costs of collection/collecting payments
Get customized, online reporting

Fitech is the leading merchant services provider committed to helping community banks be competitive and relevant in today’s market. For more than a decade, they have been investing in payment technology to meet the evolving needs of customers, and they have a proven track record of superior customer service that complements their innovative solutions. Contact Matt Mingenback, Vice President of Sales at Fitech, today at mmingenback@fitech.com or 316-518-8850.

From ICBA Securities

Vining Sparks, ICBA Securities’ exclusive broker, can assist your community bank in producing very attractive fixed rate funding strategies. Below is a very recent “playbook” that explains the strategy and the hedge accounting. For more information, you can contact your Vining Sparks account rep, or Jim Reber, ICBA Securities President, at 800-422-6442 or jreber@icbasecurities.com.

Hedging Short-Term or Floating Rate Funding

From Innovative Financing Solutions

Significant Relief for Small Businesses Affected by COVID-19 is Available
The Payroll Protection Program, part of the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides the Small Business Administration (SBA) with nearly $350 billion for American small businesses impacted by the Coronavirus.

While the program has been passed into law, the SBA has yet to finalize its approval, closing and funding procedures as well as documentation requirements and forms.

While these requirements can and likely will be adjusted to some extent when SBA regulatory guidance is issued, Borrower applicants can prepare to make a formal loan application by following the steps below:

Register to ensure you are notified to make a formal application with one of our Lending Partners as soon as the program becomes available. You will also be invited to an optional webinar with additional information.
Review the Payroll Protection Program Summary Guidelines
Calculate your estimated loan amount utilizing our Paycheck Protection Calculator.
Assemble required documentation to prepare for an application.

-----

The Senate has officially passed the CARES Act which includes significant relief to small businesses with a generous array of SBA program changes known as the Paycheck Protection Program. The House is expected to vote today or tomorrow and the President is ready to sign into law immediately. We’re optimistic SBA will quickly implement policies to facilitate application processing and we are working tirelessly to prepare for accepting applications by our Lender and Small Business Clients. The following is a high level summary of key details, however; the Small Business Investor Alliance provided an excellent detailed summary and a link to the actual bill.

As mentioned in our previous correspondence, be careful to weigh the benefits of the Paycheck Protection Program which will be administered by the SBA under the 7(a) Loan Guaranty Program versus the SBA Economic Injury Disaster Loan Program as Borrowers can only accept one.

VISIT THE IFS WEBSITE TO READ THE FULL CORRESPONDENCE

From The Kafafian Group

Performance Measurement is a proprietary and true software as a service (SaaS) profitability measurement solution of The Kafafian Group (TKG), a community financial institution consulting firm that is an affiliate member of PACB. It provides line of business, branch, and product profitability reporting to financial institutions on an outsourced basis. Performance Measurement also feeds customer profitability into an institution’s CRM or MCIF solutions. The service is an outsourced service, meaning that costing, transfer pricing, and processing is done by TKG on a tailored institution by institution basis. TKG is waiving set-up fees through June 30. This savings depends on institution size, but for a $1 billion institution, savings would be $20,000. For institutions with less than $500 million in assets, TKG is waiving set-up fees for the Performance Insight SaaS product that helps banks make smarter, more confident decisions that drive profitability.

For more information, please contact Gregg Wagner at gwagner@kafafiangroup.com or 973-299-0300 x114

-----

The Kafafian Group (TKG) is dedicated to helping financial institutions build strategies and perform better for a successful, long-term future. To add value to our relationship during these unprecedented times, our team is developing short, five minute videos on very specific topics for you and your colleagues to use, share, and keep everyone focused during this unusual time so you emerge stronger than ever.

Is there a specific subject you would like us to cover in a future Banking Short? Please e-mail bbuss@kafafiangroup.com and let us know. If we are not subject matter experts on a topic, perhaps we can marshal other industry experts to deliver valuable insights to you.

TKG is here for whatever you may need. Enjoy, be safe, and be healthy.

VIEW THE TKG BANKING SHORTS

From Kilpatrick Townsend

Kilpatrick Townsend's COVID-19 Task Force is closely monitoring developments with regard to the Coronavirus (COVID-19) as well as the recommendations of federal, state, and local authorities. We will continue to make information regarding specific known legal issues available here, on our YouTube channel, and via updates to our clients who regularly receive legal alerts and related information. If you are interested in discussing an area of specific concern, we recommend that you reach out to your primary Kilpatrick Townsend point of contact. General questions may be submitted via email to: #COVID-19KTSTaskForce@kilpatricktownsend.com.

From Locke Lord LLP

The safety and well-being of our clients, personnel and families are paramount, and we continue to monitor the overall impact of the COVID-19 coronavirus (COVID-19) outbreak closely. Our preparedness plans have been evaluated and activated to ensure we continue serving our clients with little to no disruption during these unprecedented times.

We’ve also mobilized across disciplines to create a COVID-19 Task Force that provides a coordinated response to our clients’ range of needs. This includes an FAQ section covering a host of issues, as well as links to recent QuickStudies.

We encourage you to regularly visit OUR COVID-19 CORONAVIRUS RESOURCE CENTER for the most up-to-date information. You will also find access to key contacts at Locke Lord who can put you in touch with appropriate team members.

From Luse Gorman

On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") into law. It provides over $2 trillion to combat the coronavirus (COVID-19) and stimulate the economy. The CARES Act also contains provisions that can assist financial institutions in preserving capital and easing operations. Our Alert, which summarizes these provisions, is available here.

-----

Due to the increasing restrictions placed by federal, state and local governments on the size of in- person gatherings and public movement to reduce the health risks associated with COVID-19, many companies are evaluating whether to change their upcoming annual shareholder meetings, which are traditionally held-in person, to either a meeting held exclusively online (a “virtual meeting”) or a meeting held at a physical location that would allow shareholder or member participation via the Internet or other forms of remote communication (a “hybrid meeting”). For companies contemplating holding a virtual or hybrid annual meeting, Luse Gorman has released the following legal update: Virtual Annual Meetings in Response to COVID-19.

Additionally, in light of the impact of the coronavirus (COVID-19) pandemic on public reporting companies, on March 25, 2020, the Securities and Exchange Commission issued an order allowing public companies, subject to certain conditions, a 45-day extension to file certain periodic reports that would otherwise have been due between March 1 and July 1, 2020. On the same date, the SEC’s Division of Corporation Finance issued guidance regarding its views on disclosure and other securities law obligations that companies should consider with respect to the impact of COVID-19.

Our Alert, which summarizes the steps required for companies to avail themselves of the delayed filing deadline and the SEC’s guidance on disclosure related to the COVID-19 pandemic and related business and market disruptions, is available here.

From Main Street

Serving community financial institutions with excellence is rooted in our DNA. With the COVID-19 pandemic restricting how financial institutions perform daily activities and engage with account holders, their teams are likely wearing multiple hats managing the day-to-day needs. We understand they may be feeling overwhelmed and experiencing information overload in response to sudden and rapid changes.

The Main Street & TargetSmart teams are here to help your association members through this unprecedented time. To help community financial institutions communicate to the account holders and communities they serve, our team has created a FREE Resource Center! This Resource Center, as well as our recent blog posts, serves as a guide for communicating effectively during this time. We value our partnership with your association and the members you serve. If our team can support you and your members further during this time, please don't hesitate to reach out to us.

COVID-19 Blog Topics
We have crafted several informational blogs for you to be able to share with your members to navigate these unfamiliar times. Find information regarding relief programs to help account holders, how to support small businesses through this time, and what account holders want to hear most right now. More to come here, so keep checking in with us.

COVID-19 Resource Center
With limited time and resources to dedicate to crafting communications, our team has compiled an array of digital assets. These include sample social post copy, downloadable images to utilize on various social media platforms or on your website, and helpful tips and resource links. The Resource Center is designed to help take one thing off their plate and aid financial institutions in communicating with account holders during this time. Share the Resource Center with your members today for access to free downloadable assets!

From Mosteller & Associates

Make sure you are in compliance with the latest COVID-19 requirements concerning employee postings. The Department of Labor (DOL) has released a required employment poster "Employee Rights - Paid Sick Leave and Expanded Family and Medical Leave Under the Families First Coronavirus Response Act."

This applies to employers with fewer than 500 employeesPlease download, print, and post immediately in the same location(s) as your other required employee postings. It is also recommended to share this information electronically with your employees currently teleworking. Click here to download the Employee Rights Poster

Please contact us with any questions:(610) 779-3870 or Scott Smith at Scott@mostellerhr.com

Remember Your Employee's Health is Vital to Your OrganizationPractice Social Distancing

Mosteller & Associates is closely following the ever-changing issues under the COVID-19 pandemic relative to organizations and their employees. We are in unchartered territory and are committed to supporting the business community and the employees of our friends and clients. How we lead, manage, and treat people (our most valuable asset) through turbulent times will serve to define who the organization is perceived to be by employees, when the crisis subsides.

Mosteller & Associates is combing government and health agency websites and newsfeeds daily and updating the guide below. As we see significant changes, we will provide a “What’s New” follow-up document. Included in the following guide are items such as an Employer Checklist, suggestions on handling employee issues concerning their health and the ability to work, plus the day-to-day changing regulatory environment with the just passed federal legislation as well as actions we are seeing from area employers. If you need more detailed guidance assistance with developing the right approach, please contact us directly at 610-779-3870.

Click here to download the attached PDF document to stay current!

From OnCourse Learning

As the number of global cases of COVID-19 nears 100,000, and the number of US infections rises, it's time for financial institutions to dust off their Pandemic Preparedness Plans and revisit our plans for operating with a reduced staff. Pandemic Preparedness, which falls under the umbrella of Business Continuity Management, was all but removed from the updated FFIEC Business Continuity Management booklet in November of 2019, but we've quickly remembered that doesn't mean that the threat of a global pandemic isn't real.

OnCourse Learning is offering an OnDemand Recorded seminar covering the current state of the COVID-19 - the Wuhan Coronavirus - and what financial institutions need to do from a Pandemic Preparedness and Business Continuity Perspective.

CORONAVIRUS - CHECK YOUR PANDEMIC PLAN AND BCP

From Pentegra

Pentegra, a leading provider of retirement plan and fiduciary outsourcing solutions, has made several recent changes designed to help its clients who have been impacted by the COVID-19 pandemic.

“These are challenging times, unlike what most of us have ever seen,” said Pentegra President and CEO John Pinto. “Like everyone, each of us here at Pentegra is focused on the health and safety of our team and our families, and on continuing to support our clients and partners in every way possible. We are also cognizant of the fact that many participants may be experiencing economic difficulties at this time, and are uncertain about their financial future. We want them to know that we are here for them.”

Many of Pentegra’s efforts are being made in conjunction with implementation of the Coronavirus Aid, Relief and Economic Security (CARES) Act, which includes retirement plan provisions designed to provide financial relief for participants impacted by the virus. These include expanding permissible distributions and loan rules, and extending loan repayment periods for affected participants.
Pentegra has designed a process that will make adopting these provisions as seamlessly as possible, and has created an easy way for clients to adopt all three provisions by automatic adoption with an opt-out feature. In addition, Pentegra will be waiving any amendment fees related to adopting the CARES provisions.

Pentegra understands that affected participants will want to take advantage of these features as soon as possible and will make coronavirus-related withdrawals and qualified loans a priority. To help affected participants, the company will also waive transaction fees related to coronavirus-related transactions.

Pentegra also recently introduced a COVID-19 and CARES Act resources page for clients—a place where they are able to access materials that provide an overview of the CARES Act and how it impacts retirement plans along with frequently asked questions regarding COVID-19 and retirement plans. View the web page here.

“It is through these efforts and others that we are helping as many people as possible navigate this challenging time,” Pinto said. “We encourage everyone – client or not – to contact us with any questions they may have on this, or other subjects. Most importantly, stay safe and be well.”

-----

The President has signed the Coronavirus Aid, Relief and Economic Security (CARES) Act into law. The CARES Act is the third round of federal government support in the wake of the coronavirus crisis and associated economic fallout. It provides further support to both individuals and businesses impacted by, or experiencing financial consequences as a result of COVID-19.

To better understand the CARES Act provisions please watch Pentegra’s webinar, The CARES Act – What it Means For You, Your Retirement Plan and Your Participants. We’ve also prepared a comprehensive summary of the Act, which can be accessed here; both of which are intended for you to share with your commercial business community.

Remember that during this time 401(k) Plan Sponsors still have a legal responsibility for operating their plan in accordance with ERISA. Times like these present opportunities to help our commercial clients and their valued employees, and better position them for future success. Pentegra is here to help you and your community navigate these changes. If you have questions, please contact Mark Hogan, Regional Director, Pentegra at 513.259.9222, or mark.hogan@pentegra.com.

From PWCampbell

Teller Guards: pwcampbell_teller_guards-banks-4-24.pdf
Most Banks have made adjustments to servicing customers in their branch or office locations. If your Bank is still taking appointments for consultation, or providing any services in the branch these teller guards provide a safety measure to combat the spread of the virus. If your Bank is not providing any services in the branch, upon reopening, these are a safety measure you can use to protect your employees and customers.

PWCampbell’s Teller Guards are designed to require very little assembly by the staff allowing for no outside personnel required to be onsite and the unit, while sturdy, does not require permanent installation that would leave damage to the work surface.

If you would like more information and pricing on these, please contact PWCampbell’s Branded Environments at orders@pwcampbell.com or 412.963.0100.

Floor Graphics: floor_signs_-_banks-4-24.pdf
Bankers continue to serve customers in any way possible including appointment consultations and branch services. PWCampbell offers customized floor graphics to help you comply with the CDC recommended protective measures to safeguard against the spread of COVID-19. If you are seeing customers in your branch or office, or are planning for when you do reopen, these will be vital to promote social distancing for visitors. The floor graphics can be customized to your branded colors and messaging as well as shape preferences.

To get more information on customization options and pricing, please contact PWCampbell’s Branded Environments at orders@pwcampbell.com or 412.963.0100.

From RKL LLP

RKL LLP has created a resource center to help employers cut through the deluge of information and identify what your organization needs to do in both the short and long-term. You’ll find our latest updates, action items and webinar recordings. And we want to hear from you. Please use the form found on their website to submit your questions, needs and challenges. This feedback will help inform future webinars and the guidance we’re working hard to deliver during this critical time.

Please visit RKL LLP's CORONAVIRUS EMPLOYER RESOURCE CENTER for more information.

From S&P Global

Coronavirus: The Global Impact

Subscribe to our coronavirus newsletter today. Stay up to date with the latest news and insight from S&P Global Market Intelligence, on public health, the global economy, its sectors, and commodity markets. This newsletter will be sent every Thursday.

https://www.spglobal.com/marketintelligence/en/topics/coronavirus?utm_source=coronavirusnewslettersignup

https://pages.marketintelligence.spglobal.com/Coronavirus-Newsletter-Sign-Up.html

From S.R. Snodgrass, P.C.

At S.R. Snodgrass, we’ve been working diligently to keep our community bank clients informed during this uncertain time. We’ve added new resources to our website, which are available for download, including a white paper on loan modifications and other guidance related to COVID-19. Please click here if you would like to receive our future resources via email. We encourage you to reach out to us by phone or email with questions or concerns that you have.

From Sterling Compliance LLC

As you are all working in good faith with your borrowers who are seeking payment relief during this unprecedented, difficult time, there are many uncertainties about various aspects of the accommodations being made. We wanted to assist with a couple of compliance and other considerations you want to keep in mind.

Modification or Refinance: Because payment deferrals do not constitute a new obligation, even if you capitalize interest, you are not required to issue new disclosures related to Reg Z, RESPA. However, be sure your documentation of the payment deferral is a modification and not a refinancing. Refinancings would require all new disclosures. Be sure your payment deferral or extension agreements are clear about the impact on the loan term - whether the loan balance will reamortize to pay off by original maturity once payments resume, or a balloon payment will be created, or whether the maturity is extended for the number of months of deferral. Are you extending only the principal portion, or including interest and escrow? Consumers need to be clearly informed to make appropriate decisions.

Flood Insurance: You can use a prior flood determination for modifications, increases, renewals and extensions (MIRE), as long as you're not making a new loan, under the following conditions:

The previous determination is not more than 7 years old.
No new or revised flood map has been issued in the interim.
The determination was recorded on the SFHDF.

Additionally, capitalizing interest increases the loan balance and could require an increase in the amount of flood insurance required if the property is located in a SFHA. The regulatory agencies have not issued any reprieve to this point on flood insurance requirements for modifications related to COVID-19 payment relief.

Escrow: If your payment deferrals also include deferment of escrow payments, make sure the modification agreement addresses the potential future shortfall and how that would be handled, since the bank would still be making those tax and insurance payments as scheduled on the borrower's behalf.

Negative Reporting to Credit Bureaus: Payment deferrals generally prevent the loan from being considered past due. You may want to evaluate whether to suspend reporting of negative information to credit bureaus more broadly during this time. You are not required by law to report to credit bureaus, but are required by law to report information accurately if you do.

Classifications of Loans with Payment Accommodations: The supervisory agencies continue to publish joint statements to help clarify matters for financial institutions making payment accommodations to borrowers due to COVID-19. We encourage you to go to the link periodically to view these helpful statements.

A statement issued March 22 reminds institutions that not all modifications of loan terms result in a TDR. Short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short-term -- for example, six months -- modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant.

The agencies' examiners will exercise judgment in reviewing loan modifications, including TDRs, and will not automatically adversely risk rate credits that are affected, including those considered TDRs. Regardless of whether modifications are considered TDRs or are adversely classified, agency examiners will not criticize prudent efforts to modify terms on existing loans for affected customers.

Foreclosures: President Trump on Saturday ordered foreclosures and evictions to cease for 60 days across the U.S. in response to the coronavirus pandemic. Freddie Mac and Fannie Mae have also said they would allow forbearance options up to 12 months to borrowers affected by the pandemic.

Fannie|Freddie Appraisal Flexibility: Appraisal Flexibility

Possible CRA Credit: You may get CRA credit for the payment deferrals and other accommodations to borrowers under financial distress due to COVID-19. See Joint Statement on CRA Consideration for Activities in Response to COVID-19

As the pandemic situation and its impacts continue to evolve daily, Sterling Compliance remains committed to our clients and will help in any way we can. We have received many, many questions, reviewed documents and messaging published by clients in response to the pandemic, and continue to monitor numerous sources for updates and information to help you through it.

We look forward to being able to resume travel and bank visits soon so we can see all of you in person, who we consider more than just clients, but dear friends!! Stay well!

From Stradley Ronon

Stradley attorneys are providing briefings that discuss the impact of COVID-19 on a wide range of businesses. We are regularly monitoring federal, state and local government guidance and will provide regular updates to guide you through the changing business climate. Please click here if you would like to sign up to receive our briefings via email.

Please visit Stradley Ronon's COVID-19 RESOURCE CENTER for more information.

From StreetShares

With the next round of PPP funding perhaps available as soon as Thursday or Friday, community banks way want to consider this turnkey process.

StreetShares is committed to getting banks launched in 24-48 hours to participate and offer PPP loans in this format.

-----

We are committing to having our small business lending platform launched in 7 days for any banks that need it at no cost.

With branch closures or reduction in hours and staff you can still have a quick digital small business loan application and decisioning available for your small business owners. I know the government is creating programs to help but that may take some time. This is a real time solution for your small business members that will be directly impacted by this crisis.

If we can be of service please do not hesitate to reach out.

Here is the promotion:

We are all feeling the pressure to meet the needs of small businesses during this crisis. If we can help, please do not hesitate to let me know.

With that in mind, we are offering a time-sensitive promotion.

You can now launch Business Lending-as-a-Service in 7 days or less with all fees waived*:

Online Application - No need to apply in-branch. Keep your employees and business owners safe, while funding loans in as little as 24 to 48 hours.
Waived Fees - A branded experience completely free until the end of 2020, if you sign up during our limited-time promotion from March 16, 2020 - April 10, 2020; restrictions apply.
7-day Implementation - You will have absolutely everything you need for small business lending within 7 days: technology, people, processes, and policy.

* Promotion is available from 3/16/2020 to 4/10/2020 11:59 pm EST. You must sign an order form during this period to be eligible for this promotion. StreetShares reserves the right to extend or cancel this promotion at any time. Terms, conditions, and restrictions apply. The standard "Mainstreet Heroes Kit" launch date is 7 days from the execution of the order form. Contact your StreetShares representative for details at (571) 323-6020.

From URL Insurance Group

How will the Coronavirus (COVID-19) stimulus package benefit employers and employees?
Available On Demand - 30 minutes

Take a look at the provisions within the Coronavirus COVID-19 stimulus package and how they may provide relief.
On Demand Webinar Available Now.

Resources Home

PACB Resources

ICBA Resources

Legislative Resources

Associate Member Coronavirus Resources & Updates

From Accume Partners

From Baker Tilly

From BKD LLP

From Burns White

From Bybel Rutledge LLP

From CEIS Review Inc.

From COCC

From CSI

From Fiserv

From Fitech

From ICBA Securities

From Innovative Financing Solutions

From The Kafafian Group

From Kilpatrick Townsend

From Locke Lord LLP

From Luse Gorman

From Main Street

From Mosteller & Associates

From OnCourse Learning

From Pentegra

From PWCampbell

From RKL LLP

From S&P Global

From S.R. Snodgrass, P.C.

From Sterling Compliance LLC

From Stradley Ronon

From StreetShares

From URL Insurance Group

Upcoming Events

Associate Member Coronavirus Resources & Updates

From Accume Partners

From Baker Tilly

From BKD LLP

From Burns White

From Bybel Rutledge LLP

From CEIS Review Inc.

From COCC

From CSI

From Fiserv

From Fitech

From ICBA Securities

From Innovative Financing Solutions

From The Kafafian Group

From Kilpatrick Townsend

From Locke Lord LLP

From Luse Gorman

From Main Street

From Mosteller & Associates

From OnCourse Learning

From Pentegra

From PWCampbell

From RKL LLP

From S&P Global

From S.R. Snodgrass, P.C.

From Sterling Compliance LLC

From Stradley Ronon

From StreetShares

From URL Insurance Group

Upcoming Events

PACB Services, Inc. Preferred Providers