Federal Judge Dismisses Class Suit Against Bank Over Small Business PPP Loan

Mealey's (October 14, 2021, 7:29 AM EDT) -- WINSTON-SALEM, N.C. — A federal judge in North Carolina on Sept. 29 granted a bank’s motion to dismiss for lack of subject matter jurisdiction a class action brought by a business accusing the bank of delay in processing a loan under the Paycheck Protection Program (PPP) designed to help small businesses harmed by the coronavirus pandemic, finding that the business did not demonstrate “that it plausibly suffered an invasion of a legally protected interest.”...