Regions Bank to Pay $4. 9 Million to Resolve Civil Liability in Connection with Ineligible Paycheck Protection Program Loan
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Regions Bank, headquartered in Birmingham, Alabama, has agreed to pay the United States $4,919,631 to resolve allegations that Regions received payments it should not have received from the United States in connection with Regions approving forgiveness of a customer’s Paycheck Protection Program (PPP) loan, despite the fact that the PPP loan was not eligible for forgiveness.