It is illegal for banks to discriminate based on race when lending money. Nonetheless, banks have a long and well-documented history of discriminating against minority-owned businesses in lending.
In 2020, the federal government passed the CARES Act, which contained the Paycheck Protection Program (PPP). The PPP is a government loan designed to provide financial assistance for all small businesses to keep their employees on the payroll. The federal government used private banks, such as Chase, Wells Fargo, and others, to deliver this money to small businesses. Sadly, many banks have illegally catered to their existing, wealthy and often white clients, instead of ensuring that minority applicants get a fair shake.
Loevy & Loevy has a long history of fighting racial discrimination and ferreting out corruption in big corporations. If you or someone you know believes they have been discriminated against when applying for a loan under the PPP, we want to hear from you. Please fill out the following:
Topic: Police Misconduct
Two Black Men, Railroaded as Teenagers Into Wrongfully Serving Most of Their Adult Lives Behind Bars, Sue Chicago Police
Two Black men who were wrongfully imprisoned most of their adult lives today sued Chicago Police in federal court for fabricating evidence against them and suppressing evidence of their innocence. Each were sentenced to 31 years in maximum security prison and served more than 16 years behind bars. John Fulton and Anthony Mitchell, who were… Read More
Largest Civil Rights Settlement in Ohio History Rickey Jackson Spent Nearly 4 Decades in Prison Due to Frame-Up by Cleveland Police CLEVELAND – After spending nearly 40 years wrongly imprisoned—one of the longest incarcerations of any exoneree in U.S. history–this morning Rickey Jackson and his co-plaintiffs, Kwame Ajamu and Wiley Bridgeman, announced an $18 million… Read More