The Coronavirus Aid, Relief and Economic Security (the CARES) Act created the Paycheck Protection Program (Triple P or PPP) and entrusted it to the Small Business Administration (SBA). Since then, the US Treasury and the SBA have been relatively consistent in noting that the actions of lenders and borrowers will be weighed against the rules then in effect. The SBA and the Treasury have shown no hesitation in changing the rules well after substantial economic conduct has occurred. In light of the ever evolving Triple P, we have developed a timeline that captures every update specifically related to the Triple P since the passage of the CARES Act, including interim final rules, new FAQs, interagency guidance, and any other regulatory or agency action that impacts the Triple P. The timeline below is an abbreviated version of our comprehensive annotated timeline – please contact us for additional information.