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The version of the bill passed by the Senate included the expanded funding for rural and minority communities, for SBA disaster funding, and the money for hospitals and testing, but it did not include more funding for state and local governments, nor the increased SNAP benefits. [1] The bill passed the Senate by voice vote on April 21, 2020.
President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
Last year, the Paycheck Protection Program issued 8,731 duplicate loans worth $692 million to 4,260 borrowers, including 2,689 with the same tax ID.
While money for the PPP program came from the federal government, banks and other lenders were tasked with vetting applicants to the program and distributing cash, and were paid a small percentage ...
Meant to keep employees on the payroll during a time of tremendous upheaval in the economy, PPP loans were an attractive program to borrowers because of the interest rate of just 1%, and could be ...
State regulations vary from state to state. While each state approaches financial privacy differently, they mostly draw from federal laws and provide more stringent outlines and definitions. Government agencies like the Consumer Financial Protection Bureau and the Federal Trade Commission provide enforcement for financial privacy regulations.
While many small-business owners complained of missing out on crucial funding from the Paycheck Protection Program, others mistakenly ended up receiving their money twice — or multiple times.
The U.S. Treasury Department released Monday a highly anticipated trove of data identifying every company that has received a loan of more than $150,000 from the Paycheck Protection Program (PPP ...