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Modern Perfection, LLC et al v. Bank of America, N.A.
Case Number:
1:22-cv-02103
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
Companies
Sectors & Industries:
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August 24, 2023
BofA Wins Bid For Arbitration In COVID Loan-Forgiveness Suit
A Maryland federal judge has dismissed and ordered arbitration for a suit accusing Bank of America of misguiding small businesses on how to use the pandemic-era Paycheck Protection Program, addressing a dispute over whether a binding agreement to arbitrate even "threshold issues of arbitrability" was in place.
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August 23, 2022
BofA Misled Small Cos. On PPP Loan Forgiveness, Suit Says
Bank of America has been hit with a proposed class action accusing it of misguiding small businesses about the Paycheck Protection Program, resulting in those businesses being on the hook for thousands of dollars when their pandemic-era loans were later deemed ineligible for forgiveness.