| Key
Bank to Pay $7.7 Million for PPP Fraud
Amid Data Breach Lawsuits and AI Questions
By Matthew
Russell Lee, Patreon
SOUTH BRONX, Jan
8 - Key Bank has been in
decline, both in consumer
compliance and in fair
lending. Will it be up for
sale in 2026, like Comerica?
On January 7,
KeyCorp settled charges of PPP
fraud for $7.7 million -
encouraging borrowers to
submit false data for SBA
loans. Not a good look.
Reporting
from and on the Federal
courts, Inner City Press
noticed a slew of data breach
cases filed against KeyCorp.
Fair
Finance Watch, looking at Key
Bank's lending at first
in New York State, noted that
while Key Bank made 7916
mortgage loans to whites, with
1733 denials, it made only 266
loans to African Americans,
with fully 140 denial.
Now in 2026
questions about bank use of AI
are emerging.
So will
KeyCorp be pushed to sell
itself in 2026? Watch this
site.
***
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