Fintechs’ lax oversight enabled PPP fraud, report says

Traditional lenders 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. In its report, the House of Representatives’ Select Subcommittee on the Coronavirus Crisis recommended that Congress and the Small Read more…

Crypto crying for deep regulation

A billionaire millennial plays the video game League of Legends during a funding pitch meeting, while he presents his $30b cryptocurrency startup as a platform for doing anything with your money. The VCs love him, celebrities back him, his employees swear by him. He seems like the nice guy who Read more…

US Senator Says Crypto Needs ‘More Aggressive Enforcement’ — ‘I’m Going to Keep Pushing SEC to Enforce the Law’

Senator Elizabeth Warren Wants Tougher Crypto Regulation     U.S. Senator Elizabeth Warren says the implosion of crypto exchange FTX shows that the crypto industry needs “more aggressive enforcement.” She stressed: “I’m going to keep pushing SEC to enforce the law to protect consumers and financial stability.” However, many people Read more…