2023-08-282023-08-282022-12-01https://hdl.handle.net/20.500.14300/1363The Select Subcommittee on the Coronavirus Crisis of the House Committee on Oversight and Reform investigated the role of financial technology companies (fintechs) in facilitating a disproportionately high rate of fraudulent and ineligible loans through the Paycheck Protection Program (PPP). The report states that despite fintechs' claims of using technology and innovation to better administer the PPP, many of them failed to prevent obvious and preventable fraud. Some prominent fintechs, including Womply, Blueacorn, Kabbage, and Bluevine, faced challenges in properly administering the program, with instances of missed signs of fraud and inadequate fraud prevention processes.130 pagesenStaff ReportsHouse Staff Report15: Banking, Finance, and Domestic Commerce1501: U.S. Banking System and Financial Institution Regulation117Yes