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A Home panel overseeing the coronavirus response is launching probes into how a number of banks, together with JPMorgan Chase, Bank of America, Wells Fargo & Co and Citigroup Inc., made choices about find out how to implement small-business loans underneath the federal government’s Paycheck Safety Program.
"The investigations, launched by the Democratic-led Choose Subcommittee on the Coronavirus Disaster, is looking for to find out whether or not banks and Treasury Division steerage favored bigger, well-connected companies over smaller firms from rural or minority communities when making small enterprise loans to fight the financial fallout from the coronavirus pandemic." - By Laura Davison and Mark Niquette, Bloomberg