Just filed. Fresh... Filed on behalf of small business owners today... It alleges that Wells Fargo unfairly prioritized businesses seeking large loan amounts, while the government's small business agency has said that PPP loan applications would be processed on a first-come, first-served basis.
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Should not be, but apparently is to some people that aren't paying attention, which unfortunately is far too many people.
Sorry, hedge funds have been applying for a getting bailout money.
Many of them make a billion or two a year but only have a dozen or two employees, so they technically qualify for small business bailouts.
Politicians write these bailout bills so they can keep their donors happy.
This should not be news.
Nobody “propped up hedge funds”. The more uneducated the more likely to post at Wells.
Am interested in all this!
The real crime is using that federal money to prop up hedge funds. Like hedge funds are more important than saving small businesses. What a shame.
Well the hunting’s always been good for Wells’ “past shenanigans” and I’m not aware of anything that’s changed at Wells to change that culture. With such a run of scandals, such a large cultural participation in them In all levels and the painful difficulty of even getting admission of it this is far from over. Corrupt Corporate cultures don’t change overnight,
BOFA and JP Morgan also being sued. Basically the state of CA serving in the role of an ambulance chaser......
"Wells Fargo has said" a lot of things. Problem is we have no credibility. People don't care what we say. They watch what we do.
Yes, this is hunting us...
our past shenanigans
“Wells Fargo has said that fees generated through the program will be distributed as charitable grants to nonprofits that support small businesses” according to the article. What benefit would we have prioritizing larger businesses over smaller businesses?? Just a frivolous lawsuit and someone basically taking advantage of our past shenanigans.
So they’re accusing banks of providing the loans to larger businesses who are more likely to pay back...stop the presses