Bank of America CEO Brian Moynihan, World Economic Forum executive chairman Klaus Schwab, and other WEF officials co-signed a letter that called on the business community to be “leaders of responsiveness and stewards of resilience.”
True Pundit reports thousands of Bank of America business customers were being turned away on Friday when trying to apply for government-backed small business loans as part of the Trump administration’s $2 Trillion coronavirus bailout.
“We will continue to embody ‘stakeholder capitalism’ and do all we can to help those who are affected, and help secure our common prosperity,” the letter added. The first principle the letter endorsed was, “To employees, our principle is to keep you safe: We will continue do everything we can to protect your workplace, and to help you to adapt to the new working conditions.”
Tried applying for the #PPP loan for my #smallbusiness with #bankofamerica where I've held a checking account for 8+ years. They say that's not good enough. Moving my business to a bank that respects small business. This is trash.@BankofAmerica @stevenmnuchin1 pic.twitter.com/LlwYj8Ce0C— firstname.lastname@example.org (@vistabart) April 3, 2020
Are you kidding me @BankofAmerica with this requirement of having a credit card to apply for the PPP? What type of scam is this. I have been a loyal customer for years with my business accounts. #bankofamerica #PPPloan pic.twitter.com/bppThanGSc— Melissa Perri (@lissijean) April 3, 2020
At Bank of America its not good enough to be a customer to have access to the Paycheck Protection Program, you must also be a borrower. I will be moving all my accounts. #PaycheckProtectionProgram #BA #bankofamerica pic.twitter.com/zabj6cLeVX— Christopher Bunnell (@bunnellchris) April 3, 2020
I am a small town banker. We’re an approved SBA lender. Been at work since 6am yesterday prepping applications. Trying to access the portal since 12am last night. No luck, no response from SBA. Big banks are in but not the little guys! #bigbankboondogle #PPPFailure (2/2)— Dan Eiten (@deiten) April 3, 2020
Read the full letter addressed to the business community by Bank of America Chairman and CEO Brian Moynihan, World Economic Forum executive chairman Klaus Schwab, and other WEF officials below.