The U.S. Treasury Department will audit every loan for more than $2 million given under the Paycheck Protection Program for businesses hurt by the coronavirus fallout, Treasury Secretary Steven Mnuchin said on Tuesday. Mnuchin's comments come as more public companies and better-financed entities have decided to return funds or forego their loan allocations after the Treasury put out new guidance last week excluding well-financed publicly trade companies from the forgivable loans meant to fund payrolls and other expenses during virus-related closures. On Monday, the Los Angeles Lakers basketball team returned a $4.6 million loan it received through the program.
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