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Some PPP loan recipients on Treasury’s ‘do not pay’ list
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Banking, Financial Stability, Nonbank Financial
Wednesday, January 13, 2021
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In a management alert issued to the U.S. Small Business Administration, the Office of Inspector General (OIG) reported improper payments to lenders for potentially ineligible recipients under the Paycheck Protection Program (PPP).
“Our review of [the] Treasury’s analysis showed approximately $3.6 billion in PPP loans to potentially ineligible recipients,” the OIG said.
For more details from the alert, read on.
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