Arbitration Ordered In 2 Class Suits Against Chase Over PPP Loans

Mealey's (August 16, 2021, 1:59 PM EDT) -- CHICAGO — A federal judge in Illinois on Aug. 10 ordered to arbitration two putative class complaints accusing JPMorgan Chase Bank N.A. of failing to properly process applications for loans under the Paycheck Protection Program (PPP) that was established to help small businesses suffering from shutdowns caused by the coronavirus pandemic, finding that an enforceable arbitration agreement existed in the deposit account agreement and that arbitrability was delegated to the arbitrator....