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After Winning Supreme Court Battle, Adviser Settles With SEC
June 16, 2020
A former investment adviser who successfully argued before the U.S. Supreme Court that the administrative law judge in his U.S. Securities and Exchange Commission proceedings was appointed unconstitutionally has agreed to pay $25,000 to settle his case with the SEC, ending eight years of litigation, according to Tuesday SEC filings.…
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PPP wrongly denied to business owners with felonious past, lawsuit charges
June 12, 2020
Mark Weissman was filling out his federal Paycheck Protection Program application when he was asked if he has a criminal history. The answer was yes, which automatically disqualified his real estate business in Cedarhurst on Long Island. “It was another punch in the stomach,” said Weissman, who laid off four…
SBA Sued Over Criminal History Bar For Biz Relief Loans
June 11, 2020
A Maryland business owner is suing to force the Small Business Administration to open the Paycheck Protection Program to borrowers with a criminal past, claiming the agency can't pick and choose "who is and is not morally worthy" of aid from the coronavirus relief loan program. In a complaint filed…
Store Owner on Parole Challenges Policy Barring Him From PPP Loan
June 11, 2020
A Maryland storeowner sued the Small Business Administration, alleging the agency exceeded its statutory authority when it decided to limit the availability of pandemic relief loans to business owners with a criminal record. The lawsuit was filed by the New Civil Liberties Alliance on behalf of Altimont Mark Wilks, who was barred…
Criminal record shouldn't bar small businesses from COVID-19 payroll loans, suit says
June 11, 2020
Small business owners with a criminal record aren't eligible to receive certain government aid under the coronavirus relief bill designed to help keep stores afloat while the pandemic drags on. The owner of a corner store in Maryland is looking to change that. Altimont Mark Wilks - who owns two…