On Wednesday the Treasury and Small Business Administration shared that they would prevent big banks from using the loan portal powering the small business relief program; the temporary limit is on banks with more than $1 billion in assets; according to the email which CNBC reviewed, the move was made “to ensure access to the PPP loan program for the smallest lenders”; going forward they will be evaluating whether this becomes a recurring move; the goal is to improve the chances of smaller sized businesses getting access to loans; some trade groups spoke out against the move. CNBC
