MBA COVID-19 Updates and Resources

Our world has seemingly overnight become a very different place and new developments surrounding the COVID-19 virus are coming so rapidly it may seem impossible to keep up. Please be assured that the MBA will do everything possible to help you stay informed and to assist you in navigating these unprecedented times. Just as you are open for business, so is the MBA. We are, more than ever, The Champion for Minnesota Bankers!

Special Note: Remember to document all actions taken as they relate to enacting your pandemic plans. Examiners will be looking for documentation on what steps were taken during this outbreak and how effective the BCP plan was.

Latest News
Federal Reserve COVID-19 Updates (Fed Reserve webinar, 4/3 @ 2:00 PM CST) 
Federal Stimulus Payments and Ordering Cash in a Covid-19 Environment: Information Bankers Need to Know (Fed Reserve webinar, 4/6 @ 10:00 a.m. and 2:00 p.m. CST)
New Minnesota Small Business Loan Guarantee Program
Governor Walz Issues Stay at Home Order for Minnesotans
What's Open and What's Closed
Statement by Treasury Secretary on Essential Financial Services Workers
Bank Essential Employee Letter

MBA Bulletins (Members Only)

Special Notice: CARES Act Signed into Law; Summary of Loan Provisions (3/31/20)

LC-8-20 DVS Offices Closed During Shelter in Place, CARES Act Changes (3/31/20)

LC-7-20 Minnesota Stay at Home Order: Financial Services, FDIC FAQs, Bank Secrecy Act Reporting, Foreclosure Provisions in the CARES Act, More Information Regarding State Executive Order Suspending Evictions and Writs of Recovery (3/30/20)

Special Notice: Governor Walz Issues Stay at Home” Order (3/25/20)

LC-6-20 Deferral Agreement Forms Available, DEED Emergency Loan Program for Minnesota Small Businesses, Federal Reserve Adjusts Supervisory Approach – Moves to Off-Site Exams, Ask the Regulator Webinar on Interagency Statement on Working with Customers Affected by Coronavirus, DOL Issues FAQs on the Families First Coronavirus Response Act, Free Webinar for MBA Members: Employment Law Implications of Coronavirus (3/25/20)

LC-5-20 ABA Webinar on SBA Loans – Helping Customers Through the Pandemic, Governor Suspends Evictions of Tenants and Foreclosed Homeowners - Requests a Moratorium on Foreclosures, FHFA Announces Mortgage Forbearance for Multifamily Property Owners (3/24/20)

LC-4-20 Minnesota Approved for SBA Disaster Assistance, Banks are Critical Infrastructure – Documentation for Employees, Interagency Statement on Troubled Debt Restructuring, Federal Tax Deadline Extended to July 15 (3/23/20)

LC-3-20 Families First Coronavirus Response Act (3/20/20)

LC-2-20 Banking and COVID-19: Frequently Asked Questions (3/19/20)

State Alerts, Regulatory Resources and Guidance
MN Revenue Response to COVID-19
Consumer Alert: Financial Institutions Labeled as Critical, Banks and Credit Unions will Remain Open (3/26/20)
Consumer Alert: Minnesota consumers warned not to borrow from unlicensed online lenders (3/25/20)
Consumer Alert: Commissioner Kelley Reassures Minnesota Residents on the Security of their Deposits in Financial Institutions (3/23/20)
MN Commerce Emergency Closings Related to COVID-19
MN Department of Labor and Industry

Federal Regulatory Resources and Guidance
Economic impact payments: What you need to know (IRS)
IRS Coronavirus Tax Relief
OCC Resource Page
OCC Guidance (3/13/20)
FDIC Resource Page
FDIC Guidance
Statement on Part 363 Annual Reports in Response to the Coronavirus (3/27/20)
FDIC Exams Conducted Off-Site (3/16/20)

Industry Resources
ABA Social Media Toolkit (ABA) 
Guide to coronavirus mortgage relief options (CFPB)
Managing Coronavirus Operational Risk Department-by-Department: What You Need to Do Today (ABA webinar)
ABA Pandemic Response and Business Continuity Resources for Banks
COVID-19 Business Toolkit (MN Chamber of Commerce)
COVID Resources for Your Business (MN Chamber webinar)
How Banks are Responding to the Crisis (ABA)
Pandemic & Business Continuity Resources (Ncontracts)

Employer Resources 
COVID-19 HR Resources/Toolkit (MRA)
Families First Coronavirus Response Act FAQ (Faegre Drinker)
MN Unemployment Insurance
Society for Human Resource Management (SHRM)
Jackson Lewis
Practical Guidance for Addressing the Evolving Challenges (Fredrikson & Byron P.A.)
CDC Interim Guidance for Businesses and Employers
Best Practices for Bankers Working Remotely (OBL webinar)

MBA Group Insurance Plans
Coverage Continuation - Your Group Plans with the MBA
Short Term Disability Claim Form

SBA Resources
Coronavirus Emergency Loans Small Business Guide and Checklist (U.S. Chamber of Commerce) 
COVID-19 and the CARES Act – FAQ for Community Banks (Eide Bailly)
Small Business & Loan Resources
SBA Disaster Loan Assistance
Government Response to Coronavirus, COVID-19

Frauds and Scams
Seven Coronavirus Scams Targeting your Business
FinCEN Statement
WHO-Beware of Criminals Pretending to be WHO
FTC - Coronavirus: Scammers Follow the Headlines
FTC - Coronavirus Scams, Part 2