Latham & Watkins – On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law. It provides more than US$2 trillion in emergency relief to address the financial upheaval created by the COVID-19 pandemic and is the largest stimulus package in US history. The CARES Act establishes multiple new oversight bodies with respect to this spending in both the Executive and Legislative branches, which will supplement existing law enforcement mechanisms. These oversight processes will likely generate significant investigation activity in the months and years ahead, targeting fraud, waste, and abuse across the CARES Act’s programs and various sectors of the economy.
