PRESS - Press - General

Customers Bank to pay KServicing $58M over PPP dispute. KServicing is asking a Delaware court to approve a $58 million settlement agreement it reached with Customers Bank over a Paycheck Protection Program (PPP) loan dispute. Under the terms of the deal, Customers Bank will pay $23 million and forfeit nearly $35 million in servicing and referral fees withheld by KServicing as part of a PPP loan contractual dispute.