News

As a component of the Coronavirus Aid, Relief & Economic Security Act, the Federal Reserve established the Main Street Lending Program to provide up to $600 billion in financing to businesses and nonprofit organizations negatively impacted by the onset of the COVID-19 pandemic.

Friday Eldredge & Clark, LLP has been ranked in the 2021 U.S. News - Best Lawyers® "Best Law Firms" list regionally in 41 practice areas. Ranked firms, presented in tiers, are listed on a national and/or metropolitan scale. Receiving a tier designation reflects the high level of respect a firm has earned among other leading lawyers and clients in the same communities and the same practice areas for their abilities, their professionalism and their integrity.

The Office of the National Coordinator for Health Information Technology (ONC) has announced that it will delay compliance deadlines for information blocking and other health information technology (health IT) provisions that were previously set to go into effect on November 2, 2020. The compliance deadlines were set by the 21st Century Cures Act Final Rule, which can be viewed here. Citing additional time necessary as a result of the COVID-19 Public Health Emergency, the new deadline for complying with the rule’s information blocking prohibition has been extended until April 5, 2021.

Each year Arkansas Business recognizes the leaders in our state in their special issue "Arkansas 250: Most Influential Leaders." The list includes Attorneys Michelle Ator, Marvin L. Childers, Kevin A. Crass, Khayyam M. Eddings, Price C. Gardner for their work in the legal industry.

On October 30th, the Federal Reserve Board announced two adjustments to the terms of its Main Street Lending Program. These changes are designed to better provide support to smaller for-profit businesses and nonprofit organizations.

In McKey v. U.S. Bank Nat’l Ass’n, No. 19-2638 (8th Cir. October 23, 2020), the Eighth Circuit ruled in favor of the employer in a case where an employee alleged it had illegally fired her on account of her age and in retaliation for reporting suspected age discrimination. The Eighth Circuit is the federal jurisdiction of appellate courts that includes Arkansas, and therefore valuable points can be drawn from its analysis on how similar cases will be analyzed in Arkansas.

With interest rates remaining historically low, a number of Arkansas banks have taken steps to secure an additional capital cushion through a subordinated debt offering. As reported earlier this year by American Banker, the pandemic has incentivized institutions to shore up capital as a protection against credit losses, as well as preparing to take advantage of potential lending and M&A opportunities.