Banks Hit With Suit Over Paycheck Protection Program Loan Fees

The country's largest banks are being sued for allegedly failing to pay as much as $3.8 billion in required fees in connection with the Small Business Administration's Paycheck Protection Program.

American Video Duplicating, Tush Law and Cal State Financial are suing Citibank, US Bank, JPMorgan Chase, Wells Fargo, Bank of America, MUFG Bank, Union Bank of California, PayPal and others.

Maybe trusting the same banks that caused the 08 crash to distribute tax payer's money was a bad idea?

Sadly I’m not surprised about this

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Several major US banks are being sued for unfair PPP lending practices - Business InsiderICYMI: Major US banks are being accused of prioritizing higher-value loan applications, rather than processing requests on a first-come, first-serve basis Why would they not? It’s more money for the bank, while at the same time taking care of their bigger customers first. When you know the money will run out, take care of those who take care of you. is anybody surprised? Lol and this is news? Of course they are it's the freaking big banks
Source: BusinessInsider - 🏆 729. / 51 Read more »