KeyCorp unit to pay $7.77 million to resolve US fraud claims

Core Viewpoint - A unit of KeyCorp will pay $7.77 million to settle allegations of violating the federal False Claims Act by submitting fraudulent loans for forgiveness under the Paycheck Protection Program [1] Group 1 - The settlement amount is $7.77 million, indicating a significant financial impact on KeyCorp [1] - The allegations involve fraudulent activities related to the Paycheck Protection Program, which was designed to provide financial relief during the COVID-19 pandemic [1] - The resolution of these allegations reflects ongoing scrutiny and enforcement actions related to the misuse of federal funds [1]