JPMorgan, BofA Defeat Bids to Combine Suits Over PPP Lending (1)

Small business owners who claim big banks unfairly favored some clients over others in handing out government-backed coronavirus relief loans will have to go it alone in court, a panel of judges ruled, denying several motions to consolidate lawsuits over the issue.

Groups that sued JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. all had requests for consolidation denied on Wednesday by the Judicial Panel on Multi-District Litigation. The panel ruled there would be no benefit to streamlining any of the cases because the facts of the underlying lawsuits in each proposed group were ...