The incident occurred when Paycheck Safety Program functions have been uploaded to a take a look at platform and by accident shared.Bank of America has disclosed a safety incident during which some information belonging to Paycheck Safety Program (PPP) candidates was uncovered to SBA-authorized lenders and their distributors.
The bank has been working with the US Treasury and Small Enterprise Administration to course of greater than 305,000 PPP loan functions as a part of a program meant to supply aid to small companies. On April 22, consumer loan functions have been uploaded to a “restricted entry, managed” take a look at utility platform, Bank of America mentioned in a letter to these affected.
Whereas testing was underway, the bank realized utility information may have been seen for a restricted timeframe to a restricted variety of different lenders and distributors approved by the SBA. There isn’t a indication that consumer information was considered or misused by anybody who may have seen it, officers say, and the knowledge was not seen to different PPP loan candidates or the general public.
Knowledge that may have been uncovered contains enterprise handle and tax identification quantity, in addition to different details about the applicant’s firm. It may have additionally uncovered info belonging to the principal proprietor, reminiscent of title, handle, Social Safety quantity, telephone quantity, electronic mail handle, and citizenship.
Bank of America notes this doesn’t have an effect on the submission of PPP loan functions to the SBA.
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