Banks are repositories for vast amounts of financial information. This information may be useful to parties in lawsuits in which the bank is just an innocent bystander. Banks often receive…
As reported in an earlier edition of Best Practices, it has been estimated that at least 15% of all PPP loan disbursements have at least one indicia of fraud. Until…
Shortly after the CARES Act was enacted, and the PPP loan program began, the lawsuits started. From the beginning, there was concern that the PPP loan demand would exceed the…
The general purpose of the Cares Act, including the Payroll Protection Program (“PPP”), was to provide needed financial assistance to small businesses struggling with the economic chaos created by the…
What exactly is the “cost of litigation,” and what impact will litigation have on a borrower’s ability to meet its loan repayment obligations? There are the “out-of-pocket” costs of litigation…
Considering the billions of dollars in PPP loans that Lenders made without being able to employ its customary underwriting and due diligence procedures, it is not surprising that investigations are…