Reuters could not learn which specific banks are thinking about boycotting the programme. The Bank Policy Institute (BPI), which hosted the call on Wednesday, counts lenders including JPMorgan Chase & Co, Bank of America Corp, Wells Fargo & Co and Citigroup Inc as members.
WASHINGTON: Top U.S. banks have threatened to give the federal government's small-business rescue program a miss on concerns about taking on too much financial and legal risk, five people with direct knowledge of industry discussions told Reuters.
Seeking to help millions of small businesses whose operations have either shut down or have been dramatically curtailed by the coronavirus pandemic, Congress last week passed a US$2 trillion stimulus package that includes $349 billion aimed at small firms.
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