DALLAS--(BUSINESS WIRE)--The Dallas law firm Hedrick Kring, PLLC has announced that it is investigating potential legal claims alleged against Chase Bank, Wells Fargo and Company, Bank of America Corporation, and U.S. Bank related to their processing of “Paycheck Protection Program” (“PPP”) applications. The PPP was developed by the Federal Government in the wake of the COVID-19 pandemic.
Several California class action lawsuits allege that these banks prioritized customers seeking larger loans because processing those applications first generated higher loan origination fees for the banks, rather than processing the applications on a “first come, first served” basis. It is alleged that the preferential treatment given to larger loan applicants resulted in fewer loans being provided to small businesses.
Hedrick Kring, PLLC is investigating whether these banks engaged in the alleged actions in the State of Texas.
If you are a Texas small business and one of these banks failed to fund your PPP application, or if you have information regarding the allegation that preferential status was given to larger loan applicants, please contact the law firm Hedrick Kring, PLLC by phone at (214) 880-9600 or by email at firstname.lastname@example.org. There is no cost or fee to you.
Hedrick Kring, PLLC is a Dallas, Texas trial firm that handles a variety of complex business litigation matters nationwide.