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!-->…