A congressional report says financial technology companies fueled rampant PPP fraud nhpr.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nhpr.org Daily Mail and Mail on Sunday newspapers.
A congressional report says financial technology companies fueled rampant PPP fraud klcc.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from klcc.org Daily Mail and Mail on Sunday newspapers.
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.
Financial technology services companies received billions of dollars through taxpayer-funded PPP loan processing fees with little oversight of who was getting the loans, House lawmakers allege.
Several fintech companies that facilitated high volumes of pandemic-related loans to businesses in 2020 had inadequate processes to detect fraud, according to a new report from the U.S.