NACA in the News: PPP poised for relaunch

Release Date: 
April 24, 2020
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The Business Journals, The National Observer: Friday, April 24, 2020: PPP poised for relaunch

"'It's a gigantic loophole that will cut off people who are deserving and not connected to the bank. It’s laughable,' said Ira Rheingold, executive director of the National Association of Consumer Advocates. Speaking to The Business Journals, Rheingold pointed to media reports that said some of the nation's biggest banks prioritized applications from their wealthiest clients before processing other loans. 'Why would we think that they would not favor people who are on their board of directors?' Rheingold said. 'It’s just a terrible idea.'"