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HomeBank CapitalGPB Capital Sues Signature Bank Over $2.2 Million Seizure

GPB Capital Sues Signature Bank Over $2.2 Million Seizure

GPB Capital Holdings is suing Signature Bank over roughly $2.2 million the private-equity firm claims the lender improperly took from its account over an alleged default involving two loans, including one the firm obtained under the federal Paycheck Protection Program last year.

The New York firm claims Signature’s action will result in a more than $1 million windfall for the bank in connection with the Paycheck Protection loan, which GPB said “was made with the expectation that it would be forgiven,” in a court filing Thursday.

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