Black News

Banks Used Small Business Funds To Help Themselves & Not Small Businesses

bailout_people_not_the_banks

By Staff Blogger

President Obama’s Small Business Lending Fund has been used for other purposes other than was originally intended. $2.1 billion was paid out for paying back bailouts according to a federal investigation.

Community banks have used government funds to pay back their recession-era bailouts after the government bailed them out in 2008 and 2009 under the Troubled Asset Relief Fund (TARP).

Read Original Article At Techyville

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