U.S. Sen. Sherrod Brown, D-Ohio, joined two other Democrats in calling for an investigation into reports some Paycheck Protection Program (PPP) lenders are prioritizing “larger and wealthier clients.”
In a letter to Small Business Administration (SBA) Inspector General Mike Ware, the senators allege some lenders “have prioritized the applications of their larger and wealthier clients to the detriment of smaller [businesses] adversely impacted by the coronavirus pandemic.”
U.S. Sens. Chuck Schumer, D-New York, and Ben Cardin, D-Maryland, joined Brown, the ranking member of the Senate Committee on Banking, Housing, and Urban Affairs, in sending the letter.
Read More