Mary Alison Capps

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So far Mary Alison Capps has created 87 blog entries.

Risky Business: Comparing Risk Levels of MRBs

Marijuana-related businesses (MRBs) offer incredible opportunities for banks and financial institutions, but with those opportunities comes a wide range of compliance risks. It is crucial for financial institutions to understand the level of risk each type of MRB presents when formulating their policies and procedures to help them effectively identify, oversee, and mitigate [...]

2021-09-01T14:55:38-05:00September 1st, 2021|CANNABIS, FINANCIAL INSTITUTIONS|

Comparison: COVID-19 Employer Relief Options

Information updated as of April 2021.   Which COVID-19 relief benefit is right for your business, nonprofit, or governmental entity? The answer depends! Do you have over 500 employees, over 100 employees, under 50 employees, or are you self-employed? Is your business quarantined or are you able to continue working as normal, or by telework? [...]

Current FDICIA Regulatory Relief – What You Need to Know Now and for the Future

The current trend among community banks is significant asset growth due to the multitude of government stimulus efforts related to COVID-19. Some institutions' total assets increased so significantly that bank management was revisiting the Federal Deposit Insurance Corporation (FDIC) Improvement Act of 1991 (FDICIA) requirements in Part 363 of the FDIC's Laws and Regulations. It [...]

2021-02-04T12:12:14-06:00January 21st, 2021|FINANCIAL INSTITUTIONS|

Hospital Price Transparency

What's New In late 2019, after months of discussion, CMS released its final rule on hospital transparency, mandating the disclosure of standard charges as well as negotiated rates. This update followed closely on the heels of the 2019 CMS requirement that hospitals publicly post their chargemasters and the subsequent executive order from President Trump calling [...]

2020-10-13T15:59:26-05:00October 13th, 2020|HOSPITALS & HEALTH SYSTEMS|

PPP Guidance: Change of Ownership

The Small Business Administration (SBA) has recently issued guidance related to changes in ownership of an entity with a Paycheck Protection Program (PPP) loan. This new guidance will provide additional information and clarity regarding the PPP. Change in Ownership A change in ownership is considered to have occurred when at least 20% of the ownership [...]

2020-10-12T12:09:20-05:00October 12th, 2020|COVID-19|

New Opportunities Arise if Hospitals Embrace Pricing Transparency

In a sweeping effort to empower patients, hospitals are now required by the federal government to post their standard service costs online. This new price transparency rule seeks to provide the public with a more traditional consumer experience, unveiling more information for patients to consider when making critical healthcare decisions. The question is, will this [...]

2020-10-20T09:28:48-05:00August 30th, 2020|HEALTHCARE, HOSPITALS & HEALTH SYSTEMS|

Federal Awards Best Practices

Download this Resource Have you or your organization received support under the CARES Act Provider Relief Fund? Did you know that receiving those funds may trigger an audit requirement—even for commercial (i.e, for-profit) organizations? Preparing for an audit of federal award funds can seem daunting, even if you have been subject to them [...]

2020-08-21T13:47:49-05:00August 19th, 2020|COVID-19, HEALTHCARE|

PRF Requirements Summary

Our initial piece, Provider Relief Fund Recipient Q&A, introduced the notion that recipients of funds awarded and disbursed by the U.S. Department of Health and Human Services (HHS) under the CARES Act Provider Relief Fund (PRF) could – much to their surprise – be subject to an audit related to those awards. This requirement is [...]

2020-08-19T18:23:44-05:00August 19th, 2020|COVID-19, HEALTHCARE|

Provider Relief Fund Recipient Q&A

1. Have you or your organization received support under the CARES Act Provider Relief Fund (PRF)? The U.S. Department of Health and Human Services (HHS) was authorized under the CARES Act to distribute $175 billion to hospitals and healthcare providers on the front lines of the coronavirus response.  Of this amount, approximately $130 billion has [...]

2020-08-14T13:22:52-05:00August 14th, 2020|COVID-19, HEALTHCARE|

Paycheck Protection Program (PPP) Approved for Five Week Extension

On Tuesday, June 30, just hours before the application window for the Paycheck Protection Program (PPP) was scheduled to close, the U.S. Senate unanimously passed a five-week extension. The House of Representatives followed suit, and the act was signed into law by the President on July 4, 2020. The intention behind this extension is to [...]

2020-07-06T09:00:57-05:00July 6th, 2020|COVID-19|

Updates to The Federal Reserve’s Main Street Lending Program

On Monday, June 15, the Main Street Lending Facility, administered by the Federal Reserve of Boston, officially opened up its lender portal to begin signing up participating lenders. Although the loan intake portal for lenders to submit loan participation requests to the Fed isn’t yet operational, Federal Reserve officials are advising potential borrowers to [...]

2020-06-18T14:49:06-05:00June 18th, 2020|COVID-19|

Contractors Should Juice Up Working Capital in Volatile Times

If history is any indication, surety companies will likely begin to turn a more critical eye toward their contractor clients during the COVID-19 crisis. They’ll begin to fear widespread failures and start tapping the brakes on bonding credit without working capital. A surety bond is a necessary fact of life for most contractors. In the [...]

2020-06-11T12:52:15-05:00June 11th, 2020|CONSTRUCTION, COVID-19|

New Coronavirus Relief for Mississippi Small Businesses

On May 14, 2020, the Mississippi Legislature passed a bill allocating $300 million of coronavirus relief for small businesses. This new legislation provides for: A direct payment program of $2,000 per business and An application-based grant program of up to $25,000 per business. For purposes of both programs, an eligible small business: Must be registered [...]

2020-05-20T13:22:24-05:00May 20th, 2020|COVID-19|

SBA Provides Guidance and Extends Deadline for the Good Faith Certification

The SBA, in consultation with the Department of the Treasury, on May 13, 2020, issued additional guidance for the Paycheck Protection Program (PPP) in the form of Frequently Asked Questions. The guidance relates to the Good Faith Certification that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” [...]

2020-06-09T08:51:00-05:00May 14th, 2020|CONSTRUCTION, COVID-19|

Main Street Lending Program

Click here for the most up-to-date information as of June 18, 2020. The Federal Reserve Board has announced an expansion of the scope of and eligibility for its Main Street Lending Program (MSLP). The MSLP is established under Section 13(3) of the Federal Reserve Act and is in response to the unprecedented economic challenges [...]

2020-06-18T14:45:29-05:00May 11th, 2020|CONSTRUCTION, COVID-19|

Healthcare Organizations: Are You Ready for New Revenue Recognition Rules?

Download a printable version of this resource here. Even amid significant uncertainty, financial reporting must go on. One of the most pervasive accounting standard changes in recent history, Accounting Standards Codification 606, Revenue from Contracts with Customers (ASC 606), is now in effect for all companies that issue financial statements in accordance with Financial Accounting [...]

2020-06-19T08:26:25-05:00May 5th, 2020|HEALTHCARE|

Federal Government Approves Additional Funding for PPP and EIDL Relief

On Thursday, April 23, 2020, the federal government passed the fourth round of coronavirus relief packages in the Paycheck Protection Program and Health Care Enhancement Act. This legislation allocates a combined $370 billion of additional funding for the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) programs to assist businesses affected by the [...]

2020-06-09T08:33:17-05:00April 24th, 2020|CONSTRUCTION, COVID-19|

Maximizing PPP Forgiveness

UPDATE: As of April 24, 2020, the federal government approved replenishment funding for the PPP by way of the Paycheck Protection Program and Health Care Enhancement Act. Learn more. As applicants receive their Paycheck Protection Program (PPP) loan proceeds, their focus is quickly shifting to the maximization of the estimated PPP forgiveness. Unfortunately, specific guidance [...]

2020-06-09T08:52:11-05:00April 23rd, 2020|CONSTRUCTION, COVID-19, SMALL BUSINESS|

PPP Guidance for Self-Employed Individuals

UPDATE: As of April 24, 2020, the federal government approved replenishment funding for the PPP by way of the Paycheck Protection Program and Health Care Enhancement Act. Learn more. The Small Business Administration (SBA) has released much-anticipated guidance for self-employed individuals and independent contractors (self-employed individuals) that are applying for a Paycheck Protection Program (PPP) loan. [...]

2020-04-24T13:39:22-05:00April 15th, 2020|CONSTRUCTION, COVID-19, HEALTHCARE, SMALL BUSINESS|