On April 23, 2020, the New York Public Service Commission (NYPSC) issued an order authorizing the New York State Energy Research and Development Authority (NYSERDA) to conduct a 2020 solicitation to procure 1000MW of offshore wind (OSW) renewable energy certificates (ORECs) and with the flexibility to allow evaluation of bids for up to a total

On March 21, 2020 the New York financial services community took note when Governor Cuomo issued an executive order which stated that banks subject to the jurisdiction of the New York Department of Financial Services (“DFS”) who failed to provide forbearance to businesses or consumers experiencing financial hardship would be deemed to be engaging in an “unsafe and unsound” practice.[1] The Governor’s order contemplated additional regulatory guidance from the DFS, and on March 24, the Superintendent of the DFS issued an emergency regulation (the “Emergency Regulation”) to “establish standards and procedures that regulated institutions must follow in their review of requests for relief and determinations to provide financial relief to those experiencing financial hardship, consistent with the purposes of Executive Order 202.9, this regulation and safe and sound practices of the regulated institutions.”[2]

Continue Reading New York DFS Issues Emergency Regulation to Provide Financial Relief to Residential Mortgage Borrowers

On March 18, 2020, the State of New York enacted new legislation providing sick leave to employees in New York State during the COVID-19 outbreak. The bill (S.8091/A.10153) took effect immediately. The new law, which is an extension of the existing New York Paid Family Leave law, provides sick leave to employees who are subject to a mandatory or precautionary order of quarantine or isolation issued by the State of New York, the New York State Department of Health, local board of health, or any governmental entity duly authorized to issue such an order. Employees whose children are home from school due to an order of mandatory or precautionary quarantine or isolation issued by the State of New York or any authorized government entity due to COVID-19 are also eligible for paid sick leave under this new law.

Continue Reading New York Enacts Emergency COVID-19 Paid Sick Leave Law

Employers in the United States should be aware of newly enacted legislation—the Families First Coronavirus Response Act (“FFCRA”)—that imposes obligations on many employers  to provide temporary paid family and sick leave to employees directly impacted by the COVID-19 pandemic. President Trump signed the law on March 18, 2020.

The FFCRA contains two separate laws that