The government pushed lenders to make Paycheck Protection Program (PPP) loans to stimulate the COVID-19 rocked economy. But how do lenders minimize the very real risk of potentially extending PPP loans to fraudsters?

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Sooner or later, prosecutors, regulators, legislators and the media will shift their focus from PPP borrowers to lenders. In New York University Law School’s Compliance & Enforcement blog, Jonny Frank offers five practical steps lenders can take to mitigate the legal and reputational risks of extending PPP loans to borrowers who obtained loans under false pretenses or inappropriately used the funds earmarked by the government to protect jobs.

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Jonny Frank StoneTurn

Jonny Frank

Jonny Frank brings over 40 years of public and private sector and law and business school teaching experience in forensic investigations, compliance, and risk management. He helps organizations and counsel […]

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