| Sued for PPP JPM Chase
Citigroup Signature Tell Judge Rakoff of
Chevron Deference
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- The
Source
SDNY COURTHOUSE,
Aug 21 – In the U.S. Paycheck
Protection Program, banks
limited the loans to their own
customers first. Then they
refused to pay compensation to
agents, and got sued.
On August 21 U.S.
District Court for the
Southern District of New York
Judge Jed S. Rakoff held an
oral argument, on Zoom. Inner
City Press covered
it.
A lead
defendant is JPMorgan Chase
Bank, N.A.. There's also
Citigroup, MUFG Union Bank and
Signature Bank.
Judge
Rakoff was directed to Chevron
deference and quipped, I think
that's still good law. When
the Zoom broke down, he said
it must be "Putin."
The banks
have moved to dismiss for
failure to state a claim and
for lack of subject matter
jurisdiction.
By the end
of the proceeding, Judge
Rakoff allowed sur-rebuttal
and promised a prompt
decision.
The case is James
Quinn et al v. JPMorgan Chase
Bank, N.A. et al., 20-cv-4100
(Rakoff)
***
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