Federal Bank Regulators Issue Interim Final Rule for Paycheck Protection Program Facility
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The FDIC, the OCC, the Federal Reserve, and other agencies have created webpages to provide banks and the public with updates on the COVID-19 situation.
Federal Reserve's COVID-19 Page
Treasury Department - Assistance for Small Businesses
The American Bankers Association has a page dedicated to pandemic response, along with planning and business continuity resources for banks. It includes recommendations and guidance on communicating with employees, customers, and the general public. The page can be found at the link below, and on the DBA website.
ABA Pandemic Response and Business Continuity Resources
The Delaware State Chamber of Commerce in partnership with the Delaware Bankers Association created a flyer for consumers with tips for managing finances
Tips for Managing Your Finances
The Commodity Futures Trading Commission also established a dedicated webpage on the coronavirus pandemic that includes, among other things, an advisory to the public to be on the lookout for frauds seeking to profit from recent market volatility.
Fulton Financial Corporation announced that the company’s Annual Shareholders Meeting, which will be held on Tuesday, May 19, 2020 at 10:00 a.m. will now be conducted virtually, via an online webcast. Due to the current COVID-19 outbreak, the company has made the decision not to hold an in-person meeting to help ensure the health and wellbeing of shareholders and employees. Shareholders can find additional information about the Annual Shareholders Meeting in supplemental proxy materials filed with the SEC and on the Corporation’s website at www.fult.com.
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Please join Wealth Management CIO Katie Nixon and experts from the Johns Hopkins Health System, Dr. Lisa Maragakis and Kevin Sowers, for a discussion on the latest COVID-19 market and medical developments. Click below for registration information.
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Wilmington University is here to help you continue your higher education experience. We invite to join our Webinar on April 16th, 2020 at 12pm. We will be sharing with you information regarding our programs, on-line learning options and benefits with Wilmington University. Please RSVP to michelle.e.sidowski@wilmu.edu.
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On April 6, 2020, John C. Carney, the Governor of the State of Delaware, issued the Tenth Modification of the Declaration of a State of Emergency for the State of Delaware Due to a Public Health Threat (the “Order”), stemming from the COVID-19 pandemic. Among other things, the Order promotes the safety of participants of public company annual meetings, providing public companies that, as of the date of the Order, have already given notice of a meeting of stockholders to be held at a physical location the means to switch to a “virtual meeting” and to give notice of the change by public filings and announcements, rather than giving a new written notice. (Notably, the Order does not apply with respect to public companies that, as of the date of the Order, have not given notice of their annual meeting or have given notice of a meeting to be held by remote communication.)
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Cinnaire announced that Brett Oumedian has been appointed Chief Financial Officer (CFO) effective April 7, 2020. Brett will succeed Christopher Cox who served Cinnaire since 1995 and announced his retirement in January. Brett brings more than 15 years of financial expertise to the role, serving most recently as Cinnaire’s controller for the past seven years where he played a key role in establishing best practices for the organization’s accounting operations, financial reporting and forecasting. Cinnaire’s board of directors and executive team laid out a comprehensive strategy for succession planning and Brett’s appointment as CFO aligns with the plan. As CFO, Brett will be charged with managing Cinnaire’s fiscal functions. He will play a key role in facilitating financial strategy development along with providing leadership over capital allocation and business funding. He will also have a crucial role in maintaining relationships with partners, investors and lenders.
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We have assembled a COVID-19 Task Force of Pepper Hamilton and Troutman Sanders attorneys who are available to help companies navigate this evolving public health crisis. They represent diverse practice areas and industries, across multiple geographies. If you have any questions, don’t hesitate to contact an attorney on our Response Team, or an attorney with whom you work.
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