Billion-Dollar Bank Paying $4,919,631 To Settle Accusations of Unjust Enrichment After Forgiving Ineligible Payment Protection Program Loan

An Alabama-headquartered bank with $157.4 billion in consolidated assets has agreed to settle allegations stemming from its forgiveness of a pandemic-era business loan. The US Department of Justice says that on or about August 3rd, 2021, Regions Bank approved the forgiveness of a customer’s Paycheck Protection Program (PPP) loan. Congress created the PPP in March […]
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