Antitrust Antitrust

Major US banks hit with antitrust suit for allegedly limiting Covid-19 relief loan applications to existing customers

By Max Fillion
  • 21 Apr 2020 16:59
  • 21 Apr 2020 16:59
Bank of America, JPMorgan Chase, Wells Fargo and Citibank are facing antitrust litigation alleging that they agreed to limit applications for Covid-19 relief loans to existing customers.

The proposed class action, filed yesterday by Legendary Transport on behalf of small businesses (see here), alleges the banks violated antitrust law by striking a tacit agreement

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