Have a good working day.
It appears that a calculation is being made for those who have abused the federal government’s paycheck protection program.
Bloomberg reported on Tuesday that JPMorgan issued a company-wide memo acknowledging that some customers have abused their PPP loans and that “some employees have failed as well.”
The memo, which has also been seen as Business Insider, also said that the bank was cooperating “with law enforcement, where appropriate.”
In many ways, the memo could be a sign of more important things to come. Back in May, Reuters reported the US Department of Justice has subpoenaed the major banks over the potential misuse of PPP loans.
Election day is fast approaching and some of President Donald Trump’s biggest supporters in 2016 in the real estate industry have been notoriously calm.
Daniel Geiger and Alex Nicoll have all the details about how the key real estate executives who backed President Trump in the last election sought to distance themselves from this time around.
Rosalie Chan has all the details on how Capital One turned to Amazon Web Services to overhaul its technology. Click here to read what exactly happened in the massive technological transformation of the bank.
We’ve already talked about the importance placed on startups that help businesses pay their bills and manage their finances. Amy Borrett wrote on Melio, a payments company that helps small businesses manage supplier payments and manage cash flow. Read about the startup’s $ 80 million Series C here.