Long-term customers shocked as Bank of America restricts coronavirus bailout loans to businesses who’ve borrowed before ...United Arab Emirates

Bank of America customers trying to apply for their piece of the $350 billion small business bailout were appalled to learn the bank was restricting loans to businesses who’d borrowed previously – despite claiming otherwise. Outraged customers discovered on Friday that the massive financial institution is unilaterally denying loans through the Paycheck Protection Program – the small business bailout passed as part of last month’s coronavirus economic stimulus – to any business that hasn’t borrowed from Bank of America previously. While the bank’s CEO Brian Moynihan told CNBC it was merely prioritizing existing business loan customers,

Hence then, the article about long term customers shocked as bank of america restricts coronavirus bailout loans to businesses who ve borrowed before was published today ( Friday 03/04/2020 - 10:10 PM ) and is available on Russia Today ( United Arab Emirates ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

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