August 24, 2023
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.
August 23, 2022
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.