A California-based company filed a class-action lawsuit against Wells Fargo citing unfair actions against some small businesses seeking government-sponsored coronavirus relief … The move meant that Wells Fargo would receive millions more dollars in processing fees, according to the lawsuit. Sign on to your account or call us at 1-888-932-3003. This is an attempt to collect a debt. Wells Fargo said Sunday evening that it has exhausted its $10 billion capacity for lending under the SBA’s Paycheck Protection Program as the bank operates under a regulatory asset cap. The country's largest banks are being sued for allegedly failing to pay approximately $3.8 billion in required fees in connection with the Small Business Administration's Paycheck Protection Program. The Paycheck Protection Program, which earmarked $349 billion for small businesses affected by the coronavirus pandemic, only went live on Friday. An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Wells Fargo … Other banks are also struggling. Wells Fargo announced that it will not be accepting any new loan applications under the Paycheck Protection Program.

Press Release Wells Fargo Receives Strong Interest in the Paycheck Protection Program (PPP) Published: April 5, 2020 at 10:12 p.m. Therefore, we are focusing our efforts under the Paycheck Protection Program on these groups,” said Wells Fargo CEO Charlie Scharf. With support from Wells Fargo, the California Community Foundation plans to establish a program to help households remain in their homes with a reasonable rent payment plan. Wells Fargo & Co. has confirmed industry speculation about its approach to providing up to $10 billion in loans through the federal Payment Protection Program initiative. In a move that was expected, the central bank said Wells will have to return proceeds it gets from the Payment Protection Plan and a coming Main Street lending program either back to … Member FDIC. As the backbone of the United States, small businesses are essential to the ongoing economic strength of our country and to the communities they serve. Press Release Wells Fargo Receives Strong Interest in the Paycheck Protection Program (PPP) Published: April 5, 2020 at 10:12 p.m.

Federal and state officials are investigating Wells Fargo regarding the bank’s management of Paycheck Protection Program (PPP) loans. Doug Spence made it as far as an inquiry with Wells Fargo before he got an email saying his Paycheck Protection Program loan application was …

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