April 19, 2020
Loans under the Paycheck Protection Program (PPP) were supposed to be distributed to small businesses on a first come, first served basis. However, the complaint for this class action alleges that Well Fargo & Co. and Wells Fargo Bank, NA gave priority to applications asking for larger loans, because these would earn higher fees for it.
Case Event File: Wells Fargo Prioritizes Larger PPP Loans California ComplaintRelated to: Wells Fargo Prioritizes Larger PPP Loans California Class Action