Wells is apparently hitting an Fed max lending limit for the bank as a whole and is shutting people off from the PPP program. They are limiting it to companies under 50 employees and non-profits. Unfortunately for them they are going to lose a lot of clients over this is the Fed doesn't increase Well's legal lending limit. I have a client who is irate. They got an email saying they were not eligible for the PPP program through Wells Fargo.
US Bank is doing something similar.
Truist took a ton of loan applications over the weekend.
BoA is looking like a rock star so far.
Anyone hearing anything else?
US Bank is doing something similar.
Truist took a ton of loan applications over the weekend.
BoA is looking like a rock star so far.
Anyone hearing anything else?
