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Banks handling the federal government's loan program for small businesses made more than $10 billion in fees, while thousands of small businesses were shut out of the program.
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"Personal identifiable information" was potentially exposed to other businesses via an online lending application portal, a spokesperson for the Small Business Administration told NPR.
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The government's $349 billion Paycheck Protection Program had to be thrown together quickly, and the criteria for which companies can receive benefits were kept loose.
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The Paycheck Protection Program, which opened on April 3, has been plagued with delays and technical difficulties. Republicans and Democrats agree on adding more funding, but they disagree on how.
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After a federally-declared disaster, the U.S. Small Business Administration issues low-interest loans to help homeowners and businesses recover. The…