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

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

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