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Legal Risks in Small Biz Program Mean Banks Must Walk Tightrope

S&P Global Market Intelligence

08 Apr 2020

Damien Specht spoke to S&P Global Market Intelligence for an article covering the inevitable fraud related to Small Business Administration loans as part of the coronavirus relief law.

“A year or two from now, there will be some sort of audit or investigation of the program, and there will be a lot of questions asked about individual borrowers,” Damien said. “Folks won’t remember that the banks were given streamlined instructions and were told to only look for these certain things and move the applications through.”

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