Biden Administration Promises Smoother PPP Process

The Biden Administration has been studying the Paycheck Protection Program loan processes and has made some changes designed to smooth the process, cut down on fraud, and give the smallest businesses access to the loans. For two weeks beginning on Wednesday, PPP applications will be limited to businesses with fewer than 20 employees. Other changes have been made to the program too.

Biden Orders Regulatory Review, Casting Doubt on NCUA Proposals

President Biden has issued a temporary moratorium on regulations until they can be reviewed by people in his administration. His Executive Order, signed the day of his inauguration, says that, with a few exceptions, until rules are approved by someone designated by him, agencies should not send rules to the Federal Register for publication. Rules that have been published but have not become effective should be delayed for 60 days.