SLG Sues Banks For Mishandling PPP Loans

On April 19, 2020, Stalwart Law Group became the first law firm in the country to file class actions against four of the country’s largest banks for the way they processed Paycheck Protection Program (PPP) loan applications.  Specifically, SLG alleged that these banks prioritized their largest and best clients rather than processing PPP applications on a first-come, first-served basis as required.  By reshuffling the applications in this way, the banks’ largest clients received millions in loans while many small businesses that were qualified and applied first received nothing.  These cases were discussed by the national news media, including the New York Times, Wall Street Journal and CNN, and led to a Congressional inquiry.

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