PPP Agent Fees MDL Petition Denied After JPML Finds ‘No Common or Predominant Defendant Across All Actions’

WASHINGTON, D.C. –– The U.S. Judicial Panel on Multidistrict Litigation has denied a petition to create a multidistrict litigation docket for cases filed by agents against lenders for alleged violations of the Paycheck Protection Program, concluding that “common factual questions are lacking.”

In an Aug. 5 order, the JPML further noted that the underlying cases involve “dozens of different lenders,” and explained that “the policies and practices for paying agent fees are unique to each lender which differ significantly across the actions.”

“Moreover,” the panel continued, “the vast majority of defendants are named in only one action, further indicating a …