Mnuchin Says Audit Will Be Done On Paycheck Protection Program

Treasury Secretary Steven Mnuchin said the U.S. Treasury Department will audit coronavirus loans.

He said every loan for more than $2 million given under the Paycheck Protection Program will be looked at.

Mnuchin said: “This was a program designed for small businesses.

It was not a program that was designed for public companies if they had liquidity.” According to Business Insider, companies who made false certifications could face criminal liability.

Mnuchin’s comments come after more companies decided to return their loan for those who really need it.