Moorari K. Shah quoted in American Banker article, “As lawmakers weigh PPP reforms, bankers want them to think big”
American BankerMoorari K. Shah
Moorari K. Shah was quoted on August 4, 2020, in an American Banker article, “As lawmakers weigh PPP reforms, bankers want them to think big,” which discussed the push for lawmakers to make improvements to the Paycheck Protection Program, including higher fees and interest rates, or a simplified loan forgiveness process.
Shah noted that raising interest rates and fees on the PPP would go against the original intent of the program. “Higher interest rates might also be helpful, but they are contrary to the program itself, which was intended to create a less expensive source of credit.”