Your NPA Team GRC follows developments related to the CARES Act on a daily basis. Late on May 1, 2020 we focused on IRS guidance covering the deduction of business expenses for payroll, rent, and the like if the employer received actual loan forgiveness under the CARES Act and its authorization of the Paycheck Protection […]
Category Archives: Legislative Updates & Alerts
April 13, 2020 Pawnbrokers have reported experiencing delays in receiving loan proceeds from their Payroll Protection Program (“PPP”) loan applications due to bankers’ uncertainty about eligibility. Others have been turned away by banks and told they could not apply for PPP loans because “lenders are not eligible.” Below is NPA’s position that pawnbrokers are eligible and […]
April 3, 2020 – This Update Replaces Those Dated on March 29 and 31, 2020 NPA’s Team GRC is keeping watch on new Guidance and a new Interim Final Rule for the Paycheck Protection Loan Program. The SBA issued a new application form for the PPP Loans late on April 2, 2020, which replaces the […]
Disaster Loan Assistance Federal Disaster Loans for Businesses, Private Non-profits, Homeowners and Renters UPDATED April 3, 2020 5:00pm EST
The NPA’s Team GRC has been tracking Governors, State, county, mayoral determinations, and State Association guidance relating to declaring pawnbrokers “financial Institutions.” Please see the list of States below and click to reveal detailed information.
March 31, 2020 The NPA’s Team GRC received additional information today about the CARES Act that the SBA may make the new Paycheck Protection Program (“PPP”) loans available to pawnbrokers. We are only providing new information we have and it is subject to SBA guidance, which we are told not to expect any earlier than […]
March 29, 2020 NPA’s Team GRC obtained additional guidance on tax and SBA issues from Venable, a major Washington, D.C. law firm. We will provide additional COVID-19 updates as more information becomes available. What New Relief Is AVAILABLE NOW to Pawnbrokers? SBA Economic Injury Disaster (EIDL) Program loans available only to businesses with 500 or […]
You can download and print the poster free of charge from the NPA website or the Department of Labor at https://www.dol.gov/agencies/whd/posters. Be sure to save the downloaded file so you can copy or scan or print for posting in the workplace and providing to all teleworkers, as well. You can order free copies from 1-866-4-WAGE, […]
MEMORANDUM EXCERPT: “As the Nation comes together to slow the spread of COVID-19, on March 16th the President issued updated Coronavirus Guidance for America that highlighted the importance of the critical infrastructure workforce. “ Christopher C. Krebs Director, Cybersecurity and Infrastructure Security Agency (CISA)
March 26, 2020 Since March 1, 2020, the Government Relations Committee has been engaged on a daily basis in responding to questions posed by members either through the NPA Office or directly to Fran Bishop as GRC Liaison, reviewing, preparing and issuing GRC Updates for all pawnbrokers on legislation pending in Congress to address issues […]
Families First Coronavirus Response Act’s Employer Paid Leave RequirementsMarch 26, 2020 This Update covers information provided by the U.S. Department of Labor on the Phase 2 legislation, formerly described as H.R. 6201. The NPA will continue to update this information as more details become available. The information below supplements the Government Relations Update posted on March […]
All information provided by GovPredict.com
On March 22, 2020 the Department of the Treasury, Secretary Steven T. Mnuchin, issued a “Memorandum for Financial Services Sector.” Please read or download below. For NPA’s Team GRC guidance on this topic, click here to read the article Pawnbrokers are “Financial Institutions” under Federal Law; State Laws May Vary
Updated March 20, 2020 On March 17, 2020, NPA’s Team GRC summarized H.R. 6201’s provisions affecting pawnbrokers as employers in terms of this legislation’s “emergency paid leave” under the Family and Medical Leave Act (FMLA). This Update shows changes to that prior information, which were made in the final bill enacted by Congress March 18, […]