As part of the Coronavirus stimulus, the Small Business Administration (SBA) provided loans to small businesses that were impacted by the Covid-19 pandemic. However, a new report from the SBA’s Inspector General claims the SBA approved wrong bank accounts, multiple loans, and ineligible businesses..amongst others.
October 30, 2020 : Forbes
Wells Fargo fired up to 125 employees for allegedly misrepresenting themselves to obtain stimulus money intended to help businesses hurt by the COVID-19 pandemic.
October 15, 2020 : CFO Maqgazine
The U.S. Department of Justice has brought charges against at least 82 individuals, in cases where $250 million in fraudulent loans were sought in the six months since the Small Business Administration began disbursing loans under the Trump Administration’s Paycheck Protection Program, according to a tally by the Project on Government Oversight released Thursday.
October 8, 2020 : MarketWatch
If you believed 2018 was the summer of scam, think again. As the U.S. has struggled to control the coronavirus outbreak over the past six months of 2020, it’s also been flooded with financial scams.
September 15, 2020 : Money
The anticipated suspension of loan payment relief and government aid programs could put substantial pressure on credit unions across the globe in 2021, according to a World Council of Credit Unions committee that convened last week for the first time.
August 31, 2020 : Credit Union Times