Bank of America, Citibank, JPMorgan Chase, and other banks notched another court win against loan agents seeking fees for helping small businesses apply for emergency pandemic loans earlier this year.
The U.S. District Court for the Central District of California on Monday granted the banks motion to dismiss the case after finding that the plaintiffs lacked standing because their original allegations were “too generalized” to link back to a specific defendant.
The banks aren’t completely in the clear. Judge Otis Wright II granted the plaintiffs a chance to refile their complaint, but said their suit faced high hurdles.
The CARES ...
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