The stimulus money was supposed to help small businesses. But big banks reportedly let their wealthiest clients get money first.

https://news.yahoo.com/stimulus-money-supposed-help-small-172314033.html

Isaac Scher
,Business Insider•April 23, 2020


The historic coronavirus bailout package directed $349 billion to small businesses hammered by lockdowns and closures. Such business owners were told that cash would be doled out on a first-come, first-serve basis.

But some big banks reportedly gave their wealthiest clients a different option: To skip the line.

JPMorgan Chase, Citibank, and US Bank gave their richest patrons privileged access to the loans, the New York Times reported on Wednesday, citing six bank employees and industry professionals who spoke on condition of anonymity. The Times described the bank practices as "two-tiered," with a "concierge" treatment given to wealthier clients.

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