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fintech fraud

Fintechs’ Lax Oversight Enabled PPP Fraud, Report Says

Financial-technology companies that distributed Paycheck Protection Program loans often employed lax oversight. Financial-technology companies that distributed Paycheck Protection Program loans often employed lax oversight that allowed fraudsters or ineligible individuals to receive relief funded by taxpayers, a congressional report found. In its report, the House of Representatives' Select Subcommittee on the Coronavirus Crisis recommended that Congress and the Small Business Administration should consider