Paycheck Protection Program (PPP) Vendor Pays Up
On September 13, 2022, the Department of Justice announced its first settlement with a Paycheck Protection Program lender pursuant to the False Claims Act. The agreement resolves allegations that Prosperity Bank, a regional bank throughout Texas and Oklahoma, improperly processed a PPP loan and secured a processing fee to which it was not entitled. Prosperity agreed to settle the claims for $18,000, and the DOJ took positive note of the Bank’s cooperation with the investigation.
