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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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