Washington Report 360 | June 5, 2020

PPP Flexibilty Act passed, becomes law; Ongoing attention to FRB’s MLF; DOJ updated compliance guidance

Amy S. Matsuo

Amy S. Matsuo

Principal and National Leader, Regulatory Insights, KPMG US

+1 919-244-0266


  • Congress passed, and the President has signed into law, the Paycheck Protection Program Flexibility Act, which eases provisions of the PPP related to forgiveness. The bill became effective upon the President’s signature and applies to all PPP loans.
  • Ongoing attention to the FRB’s Municipal Lending Facility, with expanded eligibility, new FAQ guidance, and proposed fee waivers from the MSRB.
  • DOJ updated its guidance on evaluating compliance programs; attention to ongoing and continuous investment in the compliance program and updates based on data analysis and lessons learned.

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