In a national bellwether case, the United States District Court for the Northern District of Florida dismissed a putative class action seeking the payment of “agent fees” for Paycheck Protection Program (PPP) loans under the...more
As more class actions are filed every day related to the COVID-19 pandemic, a growing number of plaintiffs are asserting claims against banks that acted as participating lenders in the Paycheck Protection Program (PPP). The...more
8/7/2020
/ Agents ,
Borrowers ,
Breach of Duty ,
CARES Act ,
Class Action ,
Coronavirus/COVID-19 ,
Fiduciary Duty ,
Lenders ,
Loan Applications ,
Multidistrict Litigation ,
Paycheck Protection Program (PPP) ,
SBA ,
Small Business Loans
Lenders electing to participate in the $349 billion federal Paycheck Protection Program (PPP) understood the many challenges they faced in accepting and processing loan applications. ...more