The Paycheck Protection Program (PPP) has put banks and lenders in the spotlight since it launched – for the right reasons and sometimes, the wrong ones.
Banks and lenders rightfully have received credit for the work they have done to stand up teams to work with the Small Business Administration (SBA) and process millions of small business loans for clients. Stories of staff being redirected to work on PPP loans are numerous, with officers working 24/7 shifts to process loans and help keep businesses afloat and workers employed.
But there has been the downside, too. Read on for a look at the way institutions examine and prepare for reputational risk.