Big Banks Prioritized Billions In PPP Funds For Wealthy Clients At The Expense Of Struggling Small Businesses, House Report Finds

Updated Oct 16, 2020, 05:09pm EDT Topline The Treasury Department and Small Business Administration encouraged big banks to provide loans from the $670 billion Paycheck Protection Program (PPP) to their “wealthy existing clients at the expense of truly struggling small businesses in underserved communities,” a House subcommittee said Friday as it announced the release of…
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