CARES Act

Lieff Cabraser and Equal Justice Society File Class Action Challenging Trump Administration’s Alleged Theft of Congressionally-Allocated Pandemic Relief Funds from Incarcerated Persons and the Families They Support

Sunday, August 2, 2020 - 2:07am

Background: Congress passed the CARES Act to provide sorely needed economic assistance during the economic crisis triggered by the COVID-19 pandemic.

Key Points: 
  • Background: Congress passed the CARES Act to provide sorely needed economic assistance during the economic crisis triggered by the COVID-19 pandemic.
  • Incarcerated persons, and their families on the outside, are among the most economically disadvantaged people in the country.
  • Indeed, according to one study, people who are incarcerated had a median income of only $19,185 before their incarceration, compared to $41,250 for non-incarcerated people.
  • The Equal Justice Society is transforming the nations consciousness on race through law, social science, and the arts.

The National Capital Bank of Washington Reports Second Quarter Earnings

Friday, July 31, 2020 - 4:29pm

This sector analysis was further informed during the second quarter by an analysis of the loan modifications made by the Bank since the beginning of the pandemic, as allowed for under the CARES Act.

Key Points: 
  • This sector analysis was further informed during the second quarter by an analysis of the loan modifications made by the Bank since the beginning of the pandemic, as allowed for under the CARES Act.
  • Total deposits increased during the quarter by $59.9 million to $512,354,000 at June 30, 2020 compared to $408,355,000 the year before.
  • Net interest margin decreased to 3.19% during the second quarter of 2020 compared to 3.35% in the first quarter of 2020 and 3.66% in the second quarter of 2019.
  • The National Capital Bank of Washington was founded in 1889 and is Washington's Oldest Bank.

Wolters Kluwer Offers Guidance on Unemployment Benefits as $600 CARES Act Benefit Approaches July 31 Expiration

Wednesday, July 29, 2020 - 8:32pm

This expiration precedes 13 weeks of additional unemployment insurance under the Pandemic Emergency Unemployment Compensation (PEUC) program that is scheduled to end on or before December 31.

Key Points: 
  • This expiration precedes 13 weeks of additional unemployment insurance under the Pandemic Emergency Unemployment Compensation (PEUC) program that is scheduled to end on or before December 31.
  • For individuals collecting state unemployment insurance benefits, the benefit amount will decrease.
  • Individuals who are covered under the Pandemic Unemployment Assistance (PUA), and are therefore not eligible for state unemployment benefits or extended benefits, face a greater impact if the $600 benefit is not extended, potentially risking the loss of all benefits.
  • These extended benefits are payable only after an individual has exhausted regular benefits and the 13 weeks of PEUC benefits.

CED Calls for Sweeping Action to Fight Economic Effects of COVID-19

Monday, July 20, 2020 - 5:05pm

The CED letter offers 11 proposals that the federal government should adopt to build on the CARES Act and ensure a solid economic recovery.

Key Points: 
  • The CED letter offers 11 proposals that the federal government should adopt to build on the CARES Act and ensure a solid economic recovery.
  • It also includes a proposal on how to pay for the extraordinary debt the US is accumulating in its efforts to fight the pandemic.
  • "The risk of doing too little to support the economy far outweighs the risk of doing more.
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