Ivanka Trump Was Conduit for Small Banks Over SBA Program
- Trump’s daughter forwarded ideas from Bank of America, others
- Paycheck Protection Program website up and running Friday
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Bank executives concerned about the Trump administration’s rollout of a $349 billion emergency small business lending program personally appealed to Ivanka Trump this week as they sought additional guidance and higher interest rates.
The direct calls to the president’s daughter and adviser -- from officials at institutions that included smaller, regional banks as well as Bank of America Corp. -- underscored the efforts within the financial sector and among President Donald Trump’s aides to properly implement the Paycheck Protection Program, a centerpiece of the $2.2 trillion stimulus program signed into law last week.