Lawsuits Claim Banks Failed to Pay PPP Agent Fees

May 14, 2020 Last Updated on October 5, 2020

Important Information

Attorneys working with ClassAction.org are no longer investigating this matter. The information here is for reference only. A list of open investigations and lawsuits can be viewed here.

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Case Update

October 5, 2020 – Investigation Closed

At A Glance

This Alert Affects:
Accountants and other loan agents who helped prepare paycheck protection program (PPP) applications and were not paid their agent fees by the bank.
What’s Going On?
Lawsuits have been filed against some banks alleging that they shorted accountants, consultants and others on the fees they were entitled to for preparing PPP applications. Attorneys working with ClassAction.org have now launched their own investigation into the allegations with the hopes of filing additional cases on behalf of financial professionals who were not properly paid for their work.
How a Lawsuit Could Help
A lawsuit could help accountants and other loan agents recover the fees they were entitled to under the Small Business Administration’s (SBA) orders.