On December 27, 2020, President Trump signed into law the 2021 Consolidated Appropriations Act (the “Act”). The Act provides approximately $900 billion in coronavirus pandemic-related relief, and, among other measures, provides one-time payments of $600 for individuals earning up to $75,000 annually ($1,200 for couples earning up to $150,000), authorizes emergency community development programs, lengthens temporary suspensions and modifications of several banking-related provisions, and authorizes approximately $325 billion in relief for small businesses that have been affected by the pandemic. The Act was adopted on December 21. This memorandum summarizes key financial services-related provisions of the Act, including those relating to the Small Business Administration’s Paycheck Protection Program (the “PPP”).