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Everyone said they weren't taking any risk, but all the money was distributed and now they're getting sued by people who didn't get some.

• elliekelly 7y ago
  To be fair that’s a risk created by the financial institutions in the way they chose to implement & process the loans, not a risk inherent in the structure of the Paycheck Protection Program. A bank that processed these loan applications fairly and in the order they were received doesn’t really need to worry. (Whether such a bank exists at all is a different story.) But even the banks who blatantly processed the applications in an unfair or discriminatory manner probably aren’t losing much sleep. The clients with the resources & connections to make a stink are the clients who got approved. Funny how that works.
  • ksdale 7y ago
    I disagree, I think regardless of the implementation, there are so many businesses that didn't get money, that banks are getting sued anyway. I also agree that a lot of banks probably aren't losing much sleep, but that's different than saying this whole thing is risk free to the banks.