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May 28, 2020
Setting Your Workforce Up for Success

At Weston Forest, we have three corporate goals that guide everything we do: Culture, Commitment and Growth. Our culture is to create opportunity for all our employees. We want to make sure that our customers, both internal and external, have a great customer experience, and that our staff enjoy

Late last Friday night (circa 11:00 PM), Treasury/SBA released two more Interim Final Rules (IFR), one of them on PPP loan forgiveness. These are the agencies’ 13 and 14 IFRs in 7 weeks, issued in addition to the many FAQ documents that “interpreted” the statute and the rules.

Efforts are being undertaken in both the House and Senate to pass legislation providing much-needed flexibility in the PPP. While the legislative situation remains fluid and negotiations reportedly are continuing this weekend, this is the current situation:

There is still no official guidance from the Fed on when the MSLP will be stood up. Of note on this matter: we reported yesterday on the less-than-detailed Mnuchin and Powell testimony before the Senate Banking Committee. In today’s Wall Street Journal, the editorial board was sharply critical of

I believe the Forest City Trading Group has done an outstanding job at navigating the rapid changes brought about by COVID-19. I was impressed by how quickly we moved and how flexible our leadership has been in providing alternate work solutions.

Treasury Secretary Mnuchin and Fed Chairman Powell testified before a virtual hearing of the Senate Banking Committee today. In his prepared testimony, Chairman Powell briefly addressed the MSLP, noting that the Fed is “preparing to launch” the program and that they “will continue to adjust facilit

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