Remember when I was screaming up and down about the role of fintech in PPP – and their promised role as the saviors of the smallest of businesses?
Well, hold on, folks – the Select Subcommittee of the CoronaVirus Crisis has launched an investigation into the role of the fintech industry in PPP fraud. This week, letters were sent to two banks that provided most of the funding and two fintech companies.
An article in the Miami Herald dug into the investigation underway for Kabbage, a well-known name in the PPP world.
This story is not over.