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House subcommittee report shows fintechs facilitated PPP fraud
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Banking, Government Oversight, Nonbank Financial
Tuesday, December 13, 2022
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A report from the U.S. House of Representatives Select Subcommittee on the Coronavirus Crisis detailed poor performance of many fintech companies to administer the Paycheck Protection Program (PPP). The report showed that many fintech companies failed to properly screen for fraud in PPP applications.
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