May 2021 Bar Bulletin
By Bill Lawrence
There is growing evidence of a soon-to-be reported spike in the number of non-performing loans in lender portfolios, and time is running out to take the difficult but necessary measures to mitigate their risk. The question isn’t whether or not that intervention will be required, but when.
Since the beginning of the COVID-19 crisis, the Federal Reserve has taken swift action to provide a number of tools to help banks cope with this anticipated increase in non-performing loans. One of the most sweeping programs, which was aimed at helping small- to medium-sized businesses early in the COVID crisis, was the deferred payment...