Are virtual business transactions the new reality? Once consummated in title company conference rooms amid seemingly bottomless stacks of paper, real estate transactions—like seemingly every other aspect of our lives—have gone virtual during the pandemic. While some home buyers opt to continue in-person closings where possible, others are either giving their attorneys the power to ink final documents for them, or turning to software like DocuSign, with which increasing numbers of customers have become comfortable.…

COVID Rules for Residential Evictions The COVID-19 Pandemic has drastically altered the Rules for Residential Evictions affecting both landlords and tenants. The Federal Government and the State of Illinois have enacted rules to protect many individuals from eviction and landlords must be aware of the rules to protect their interests.   The recent Stay-At-Home recommendations and the slowdown in the economy have created pressures on both landlord and tenants. Continue reading…

           Crypto economy has arrived. An actual physical bank will soon be providing the full slate of deposit-taking, custody and fiduciary services for cryptocurrency such as bitcoin. The Cheyenne, Wyoming-based Kraken Financial on September 16 became the first digital asset firm in the U.S. to obtain a federal- and state-recognized bank charter and thus will be regulated very similarly to other American banks. Although the institution will have a physical office…

Employers Need to Mask Up Against Lawsuits Small businesses face a dizzying swirl of regulations from different levels of government about whether patrons and employees are required to wear masks during the pandemic, as well as whether employers are required to either purchase masks for employees or reimburse them for reasonable costs. The scenario becomes more fraught given the emergence of class-action litigation even when businesses are complying with the mandates and guidelines from the…

State Requires Sexual Harassment Prevention Training If you’re a small business owner and you haven’t trained your employees on sexual harassment prevention, you have until December 31 to stay in compliance with Public Act 101-0221, which amended the Illinois Human Rights Act to require such training this year and every year hereafter. This recent law mandated that the Illinois Department of Human Rights put together a model training program for sexual harassment prevention, which the…

Women-Owned Small Business Ends Starting October 15, in a stepped-up effort to ensure that all applicants are eligible, the U.S. Small Business Administration will no longer allow women-owned small businesses or economically disadvantaged women-owned small businesses to self-certify that they meet the requirements for the Procurement Program for Women-Owned Small Business Concerns. That program enables these categories of businesses to compete for set-aside or sole source contracts with the goal of awarding at least 5%…