Treasury Department Encouraged Banks to Prioritize Existing Customers for PPP Loans, House Panel Says

Wall Street Journal, Oct. 16, 2020–Amara Omeokwe, Ryan Tracy (subscription)
The prioritizing put underserved businesses, including those owned by women and minorities, at a disadvantage when applying for a $670 billion small-business coronavirus aid program, a Democratic-led congressional oversight subcommittee’s report says.