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Brief
The PPP and Bank Fraud Enforcement Harmonization Act of 2022 extends the statute of limitation for fraud by borrowers under the Paycheck Protection Program (PPP) to 10 years from the date of the offense. This amendment aims to encourage honest reporting of fraudulent activities. The law amends two sections of the Small Business Act, adding new subparagraphs that clarify the filing requirements for criminal charges and civil enforcement actions related to PPP loans.
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