The Latest: Wall Street gets a share of govt virus funding
NEW YORK (AP) — The Latest on the Treasury decision to identify hundreds of thousands of businesses that received funding through the Paycheck Protection Program, created to preserve jobs at smaller businesses during the coronavirus pandemic. Under the PPP, Congress created $659 billion in low-interest loans that will be forgiven if employers use the money on payroll, rent and similar expenses. The public may never know the identity of more than 80% of the nearly 5 million beneficiaries to date because the administration has refused to release details on loans under $150,000. That secrecy spurred a lawsuit by news organizations including The Associated Press:
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