Bank of America reveals data breach in PPP application process
Caroline Hudson reports:
Bank of America Corp. (NYSE: BAC) has revealed a possible data breach on business clients’ information for the Paycheck Protection Program.
The breach occurred on April 22, as BofA uploaded PPP applications onto the U.S. Small Business Administration’s test platform, according to a filing with the California Attorney General’s Office. The limited-access platform allowed lenders to test PPP submissions before the second round began.
Charlotte-based BofA said application information may have been visible to other SBA-authorized lenders and their vendors.
Read more on Charlotte Business Journal.