News & Analysis as of

Small Business Administration › Fraud › Financial Institutions

The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA... more +
The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -
Ballard Spahr LLP

Defendant Challenges FDIC Enforcement Proceeding, Citing Jarkesy

Ballard Spahr LLP on

In one of the first tests of the implications of the Jarkesy decision for other federal regulatory agencies, an individual accused by the FDIC of participating in fraudulent loan activity is asking a federal judge to dismiss...more

Buchalter

PPP Lender Liability, Enforcement, & Fintech Challenges

Buchalter on

The Paycheck Protection Program (“PPP”) emerged as a lifeline for small businesses grappling with the unprecedented challenges of the COVID-19 pandemic. Lenders navigated a landscape of regulations that Congress quickly...more

Lippes Mathias LLP

The Rise and Fall of the Paycheck Protection Program

Lippes Mathias LLP on

The Long-Term Effects Felt by Lenders Nationwide. As a result of the United States government instituting the Paycheck Protection Program (“PPP”), companies nationwide have defaulted on hundreds of thousands of PPP loans,...more

Bradley Arant Boult Cummings LLP

Prosecution Of NY Lender Marks Shift In PPP Enforcement

Bradley Arant Boult Cummings LLP on

Until recently government enforcement and regulatory scrutiny of fraud and other misconduct relating to COVID-19 relief programs were generally limited to end recipients of the relief. These efforts have mostly been...more

Fox Rothschild LLP

Bank Fraud Involving PPP Loans Could Lead to Prison Time, Even for Relatively Small Advances

Fox Rothschild LLP on

The U.S. Department of Justice has recently begun charging defendants with bank fraud in relation to Paycheck Protection Program loans as part of its continuing efforts to investigate and prosecute individuals for crimes...more

K&L Gates LLP

COVID-19: Financial Institutions and Loan Recipients Will See Increased Congressional and Inspector General Investigations on...

K&L Gates LLP on

The economic response to the pandemic will continue to generate significant investigative scrutiny by Congress, inspectors general, and law enforcement—likely for years to come. The House Select Subcommittee on the...more

King & Spalding

Prosecutors Using FIRREA to Investigate Pandemic Conduct

King & Spalding on

The Financial Institutions Reform, Recovery and Enforcement Act of 1989 (“FIRREA”) is a powerful tool in the prosecutorial arsenal. Due to its long statute of limitations, expansive penalty provision, and low civil burden of...more

Ballard Spahr LLP

PPP Lenders and Fraudulent Borrowers: False Claims Act Liability and AML Risk

Ballard Spahr LLP on

Can BSA/AML Requirements Lead to Deemed Knowledge of Borrower Fraud? The first two weeks of August brought a milestone of sorts in the ongoing recovery from the economic downturn brought on by the COVID-19 pandemic. The...more

ArentFox Schiff

SBA and Department of Treasury Announce Disclosure of PPP Recipients

ArentFox Schiff on

SBA and Department of Treasury Announce Disclosure of PPP Recipients - After weeks of mounting public and congressional pressure, on Friday, June 19, the SBA and Department of Treasury announced that it will make...more

ArentFox Schiff

Business Owner Charged with Fraud Connected to the Paycheck Protection Program

ArentFox Schiff on

Business Owner Charged with Fraud Connected to the Paycheck Protection Program - On June 15, 2020, the owner of several information technology companies was charged in a criminal complaint with bank fraud and for making...more

10 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide