Loading...
"We Are Not the Fraud Police": How Fintechs Facilitated Fraud in the Paycheck Protection Program
House Committee on Oversight and Reform Select Subcommittee on the Coronavirus Crisis
House Committee on Oversight and Reform
Select Subcommittee on the Coronavirus Crisis
Abstract
The House Committee on Oversight and Reform, Select Subcommittee on the Coronavirus Crisis issued a Staff Report on the role financial technology companies (fintechs) played in facilitating disproportionately high rates of fraudulent and ineligible loans through the Paycheck Protection Program (PPP) through failure to implement proper systems and safeguards. The report contains recommendations.
Date
2022-12-01
Document Type
House Staff Report
Serial Number
Document Length
130 pages
Congress
117
Files
Relation
DOI
Keywords
Staff Reports, House
PAP Major Code
15: Banking, Finance, and Domestic Commerce
PAP Minor Code
1501: U.S. Banking System and Financial Institution Regulation
Related Hearings
• House Committee on Oversight and Reform, Select Subcommittee on the Coronavirus Crisis, hearing on "Briefing by Mark Noffke, Chief Financial Officer & Executive Vice President, Flying Food Group," 116th Cong., (2020, August 18)
• House Committee on Oversight and Reform, Select Subcommittee on the Coronavirus Crisis, hearing on "Briefing by Michael Hargett, Chief Financial Officer, Swissport USA," 116th Cong., (2020, August 19)
• House Committee on Oversight and Reform, Select Subcommittee on the Coronavirus Crisis, hearing on "Briefing by Nissen Liddiard, Senior Vice President, and Todd Boren, President and Chief Operating Officer, Celtic Bank," 117th Cong., (2022, April 21)
• House Committee on Oversight and Reform, Select Subcommittee on the Coronavirus Crisis, hearing on "Briefing by Herman Man, Chief Product Officer, and Gil Rosenthal, Vice President of Risk Operation, BlueVine Inc.," 117th Cong., (2022, July 26)
• House Committee on Oversight and Reform, Select Subcommittee on the Coronavirus Crisis, hearing on "Briefing by Staff, Prestamos CDFI," 117th Cong., (2022, March 31)
• House Committee on Oversight and Reform, Select Subcommittee on the Coronavirus Crisis, hearing on "Briefing by Michael Hargett, Chief Financial Officer, Swissport USA," 116th Cong., (2020, August 19)
• House Committee on Oversight and Reform, Select Subcommittee on the Coronavirus Crisis, hearing on "Briefing by Nissen Liddiard, Senior Vice President, and Todd Boren, President and Chief Operating Officer, Celtic Bank," 117th Cong., (2022, April 21)
• House Committee on Oversight and Reform, Select Subcommittee on the Coronavirus Crisis, hearing on "Briefing by Herman Man, Chief Product Officer, and Gil Rosenthal, Vice President of Risk Operation, BlueVine Inc.," 117th Cong., (2022, July 26)
• House Committee on Oversight and Reform, Select Subcommittee on the Coronavirus Crisis, hearing on "Briefing by Staff, Prestamos CDFI," 117th Cong., (2022, March 31)