Each day, new jurisdictions issue orders for businesses to cease operations and for residents to stay at home. The orders typically exempt "essential businesses," including certain businesses and workers in the financial sector. Those jurisdictions recognize that consumer financial services businesses provide essential access to deposits, credit, and payment systems. Often, though, the orders' terminology is nonspecific with regard to the particular types of businesses that are essential, so the exact parameters for the "essential business" exemption in each jurisdiction are not clear. The penalties for failure to comply can be serious.
Read more in Mayer Brown's COVID-19 Legal Update.
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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.
