WASHINGTON—The Treasury Department privately encouraged lenders to prioritize existing customers when issuing loans for the federal government’s small-business coronavirus aid program, according to a report released Friday by a Democratic-led congressional oversight subcommittee. The Treasury Department’s actions were one of several ways the Trump administration and several large banks put underserved businesses, including those owned by women and minorities, at a disadvantage when applying for the $670 billion Paycheck Protection...

Source: Wall Street Journal October 16, 2020 15:17 UTC