Federal Judge Tosses 6 Class Cases Seeking PPP Agent Fees

Mealey's (September 23, 2020, 1:09 PM EDT) -- NEW YORK — A federal judge in New York on Sept. 21 issued an opinion and order dismissing six putative class complaints by accountants and accounting firms accusing various banks of failing to comply with the Coronavirus Aid, Relief and Economic Security (CARES) Act and pay them fees for acting as agents assisting small businesses with their applications for loans under the Paycheck Protection Program (PPP) (Robin Johnson, et al. v. JPMorgan Chase Bank, N.A., No. 20-4100, James Quinn, et al. v. Signature Bank, et al., No. 2-4144, Fahmia, Inc., et al. v. MUFG Americas Holding Co., et al., No. 20-4145, Fahmia, Inc. v. Citibank, N.A., et al., No. 20-4146, Robin Johnson, et al. v. JPMorgan Chase Bank, N.A., No. 20-4858, Tax Divas, LLC, et al. v. J.P. Morgan Chase Bank, No. 20-5311, S.D. N.Y., 2020 U.S. Dist. LEXIS 172421)....