Senate passes PPP reform bill, addressing concerns of small businesses

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Senate Majority Leader Mitch McConnell, a Republican from Kentucky, walks through the Hart Senate Office Building on Tuesday, June 2, 2020.

Sarah Silbiger/Bloomberg via Getty Images

Business owners who received a forgivable loan through the Paycheck Protection Program are likely getting more leeway on how to spend those funds.  

The Senate passed legislation Wednesday night that restructures how entrepreneurs can use loans issued through a new federal relief program for small businesses ailing from the economic contagion unleashed by the coronavirus pandemic. 

Many business owners have called on Congress to update the Paycheck Protection Program as they struggle to meet

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Crawford & Company names new general counsel

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Crawford & Company has announced the appointment of Tami Stevenson as senior vice president and global general counsel. In her new role, Stevenson will report to Joseph Blanco, president of Crawford.

Stevenson succeeds Blanco as general counsel and corporate secretary following Blanco’s promotion to president last month. In her new role, she will be responsible for leading the company’s legal department and supporting the board in maintaining best practices in governance policies and procedures.

“Tami has provided strategic counsel on a broad range of legal, business and operational matters during her tenure at Crawford, and she has consistently demonstrated that

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Private equity investments may be coming to your 401(k)

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U.S. Secretary of Labor Eugene Scalia.

Oliver Contreras/SIPA/Bloomberg via Getty Images

Savers using 401(k) plans may soon be able to invest their retirement money in private equity, long considered strictly the province of the well-to-do.

The U.S. Labor Department issued guidance Wednesday stipulating that business owners with 401(k) plans can more safely offer certain funds with a private equity component to their employees.

While some experts believe 401(k) savers could use those funds to get stronger returns, others believe doing so would expose them to high fees, more risk and predatory practices. 

The funds addressed by the Labor Department include

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Research finds criminals hit $1.4 billion jackpot from cryptocurrency crimes

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CipherTrace has released its Spring 2020 Cryptocurrency Anti-Money Laundering and Crime Report with key data on cryptocurrency crimes and trends that will have regulatory repercussions for VASPs and other financial institutions.

In the first five months of 2020, crypto thefts, hacks, and frauds totalled $1.4 billion, suggesting 2020 could see the second-highest value in cryptocurrency crimes ever recorded. Contributing to this number are COVID-19-themed crypto crimes, which have proliferated in the wake of the current health and economic crises.

On the regulatory front, the data reveals that 74% of the bitcoin moved in exchange-to-exchange transactions was cross-border. The abundance of

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