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The loan seems to be between himself and one of his companies, so a bank didn't forget about the loan. The significance is that not accounting for this loan correctly may have allowed him to evade taxes because it changed the valuation of his assets.
Another way of thinking about possible victims is that the banks probably would have loaned that money to someone. If it was an honest person or company (or rather more honest), then that money may have been used to generate more taxes than we're paid, more public benefit, or both. Of course the bank gets their profits, but they are in theory supposed to benefit everyone so long as the system is working (I know there are many ways in which it is not) but when someone cheats the system they take an undue amount of that benefit for themselves.
No, this was an actual lender forgiving $48 million in debt according to this article.
The bank forgave the $48 million dollar loan. When a bank forgives a loan, it has to be reported as income. Trump instead reported that his Chicago Unit Acquisition LLC actually loaned him $48 million and that he paid off the loan with it. Essentially, he claimed that the debt went from Fortress to Chicago Unit Acquisition and he still had the debt. He didn't though, it had been forgiven. That's tax fraud.
Edit: forgiving, not forging.
Thanks, I didn't see that in the initial reporting