CIBC defends putative class action relating to PPP loans
Clients Canadian Imperial Bank of Commerce
Jones Day is representing Canadian Imperial Bank of Commerce ("CIBC") in a putative class action arising under the Paycheck Protection Program ("PPP") of the Cares Act. The plaintiffs are alleged agents of PPP borrowers and have claimed that the Cares Act and various state common law theories obligate CIBC and the other defendants to pay fees directly to the agents.
Full Compliance, LLC, et al. v. CIBC Bank USA, et al., No. 1-20-cv-22339 (S.D. Fla.)