Wells Fargo sued over PPP lending

Wells Fargo has been sued by two California companies over how it prioritized processing loan applications for the SBA Paycheck Protection Program. The suit by the two companies, filed April 19 in federal court in Los Angeles, seeks class-action status.

“Wells Fargo has, once again, prioritized corporate greed at the expense of its small business customers,” the lawsuit alleges. “Wells Fargo prioritized loan applications seeking higher loan amounts because processing these applications first…