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U.S. Department of the Treasury in Washington, D.C. U.S. Department of the Treasury in Washington, D.C.

The U.S. Treasury Department last week quietly added new guidance to its Paycheck Protection Program. In doing so, the Treasury second-guessed itself, and small business borrowers, by saying PPP loans went to companies that may not have faced imminent “significantly detrimental” financial harm. On Tuesday, Treasury Secretary Steven Mnuchin announced a “full review” of any loan that exceeds $2 million.

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