Vance says 870K people suspected of COVID-era US fraud barred from federal loans
A U.S. enforcement push, dubbed "Heartland fraud surge," probed losses involving the Paycheck Protection Program and Economic Injury Disaster Loan program.
Vice President JD Vance announced on Monday that the Trump administration will suspend approximately 870,000 individuals suspected of defrauding pandemic-era small business programs from receiving future federal loans. Vice President Vance stated that those who deceived the American taxpayer should no longer be eligible for government-backed loans.
The Justice Department's nationwide crackdown on fraud involving COVID-19-era Paycheck Protection Program resulted in actions involving more than 160 defendants and roughly $245 million in intended losses to taxpayers.
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