Weekly COVID-19 Oversight & Enforcement Report - July 2020 #2

Treasury and the SBA disclosed the identities of a portion of PPP loan recipients. The Washington Post has created a searchable database of the recipients. Politico reports that the revelation that wealthy businesses and nonprofits benefited from PPP loans makes it more likely that Congress will impose new limits on aid in its next rescue plan for employers and workers. Rep. James E. Clyburn, Chairman of the Select Subcommittee on the Coronavirus Crisis, issued a statement in response to the disclosure. He expressed appreciation for the “much-needed transparency for the largest borrowers,” but noted that “it is only a first step” and that the Select Subcommittee “is working to ensure more oversight and more transparency for this critical program.”

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