Small Restaurants Join Other Small Businesses to Sue Banks Over PPP Loans

  • By cvbizz
  • April 21, 2020
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Small businesses say big banks favored businesses seeking larger loan amounts

BNG Restaurant Group, a small frozen yogurt shop, and other small businesses are among those named within four class action lawsuits that accuse banks of unfairly prioritizing which businesses would received Paycheck Protection Program (PPP) loans. According to the lawsuits, JP Morgan Chase, Wells Fargo, Bank of America and U.S. Bank each “concealed from the public that it was reshuffling the PPP applications it received and prioritizing the applications

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