Bank of America reveals data breach in small-business loan process

CHARLOTTE — Bank of America Corp. 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.

“There is no indication that your information was viewed or misused by these lenders or their vendors. And your information was not visible to other business clients applying for loans, or to the public, at any time,” BofA said.

Read the full story here.