Ten California businesses, including two law firms, filed class actions alleging major banks such as Wells Fargo and Bank of America prioritized larger loan applicants as part of the federal $349 billion Paycheck Protection Program.
“Businesses are deciding when and how they can come back to work. And so it’s really easy to begin to ignore the basics around compliance,” said Don Fancher, an Atlanta-based principal at Deloitte.
“There is a reason you see a lack of representation from Black and Brown faces in law firms, corporate boards of directors and at the highest levels of corporations,” Joe White, corporate counsel at StandardAero, said. “That is simply because the folks already in those rooms network with people who look like them and come from similar backgrounds."
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