Chase Kept Pandemic Loan Fees Owed to Accounting Firm, Suit Says (1)

JPMorgan Chase Bank and First Republic Bank refused to pay agent fees on pandemic relief loans that an accounting firm helped arrange for small businesses, a proposed class action in California alleges.

M&M Consulting Group LLC was never paid for helping one client secure a loan of more than $700,000 from JPMorgan Chase, and another client obtain a $35,000 loan from First Republic Bank, according to the lawsuit filed Wednesday in the U.S. District Court for the Central District of California.

M&M alleged the banks either didn’t respond or refused to pay agent fees on the Paycheck Protection Program loans ...