Eric Corrigan quoted in American Banker article on potential PPP liabilities

May 6, 2020

There are concerns that lenders will need to brace for fair-lending litigation and regulatory scrutiny could add risks to holding PPP loans going forward.

“Regulators have a habit of changing the rules along the way,” Corrigan said. “Now they’re reviewing loans over $2 million. They could also change the terms of forgiveness. … Any bank holding this paper, even for a moment, is subjecting themselves to unknown risks.”

Read the article at American Banker
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American Banker