Fintechs have a fraud problem with their Covid relief loans
CNN
Fintech lenders helped speed the delivery of forgivable government loans to small businesses crushed by the pandemic. But these tech-savvy lenders may also have opened the door to widespread fraud and misuse of taxpayer money.
Fintechs are almost five times more likely than traditional banks to have made "highly suspicious" loans through the $780 billion Payroll Protection Program (PPP), according to research published Tuesday. Nine of the top ten PPP lenders with the highest rate of suspicious loans are fintechs — and the remaining one acts like a fintech company, according to the study by researchers at the McCombs School of Business at the University of Texas at Austin.
President Donald Trump spent his Friday morning perusing samples of stone in Florida for the new White House ballroom, as he pushes ahead on a controversial effort to replace the East Wing.
Brian Cole Jr. allegedly placed explosives outside the Democratic and Republican National Committee buildings on January 5, 2021.
New York City Mayor Zohran Mamdani used his executive powers to revoke a handful of orders put into place by his predecessor after the former mayor was federally indicted, including a directive that expanded the definition of antisemitism and another that barred city employees and agencies from boycotting or divesting from Israel.
A respected dentist and his wife were gunned down in their upscale Ohio home while two young children were inside, authorities said, as the killer remains on the loose.
Key figures in the long-running controversy over alleged fraudulent safety net programs in Minnesota
The Trump administration, for the second time in recent weeks, is using allegations of fraud to justify increased federal law enforcement actions in Minnesota, the state with the country’s largest Somali population.
Americans feel more politically connected by generation than they do by race or gender, CNN polling data finds.
A woman was found dead Thursday on a hiking trail in northern Colorado, in what authorities believe to be a rare fatal mountain lion attack.
The Trump administration is abruptly cutting dozens of staff who are at the forefront of disaster response and recovery at the Federal Emergency Management Agency this week, according to internal emails obtained by CNN and sources familiar with the plan.
If there was any hope New York City Mayor Zohran Mamdani would inch towards the middle or appeal to moderate Democrats as he launched his administration, it vanished in the bitter January air that ushered in the start of his term.
Venezuelan security forces have detained at least five Americans in recent months as the US has built a pressure campaign against Venezuelan President Nicolas Maduro, a US official familiar with the matter told CNN.
Quality Learning Center, a focus of a video looking at Somali businesses in Minneapolis, has a history of code violations, but none that suggested fraud.
President Donald Trump told The Wall Street Journal in an interview published Thursday that he takes a higher dose of aspirin than his doctors have recommended, blaming that for the visible hand bruises that have generated renewed questions about his health.
The cavalry didn’t come to save the Affordable Care Act’s enhanced premium subsidies, which ended when 2025 did. And while the House is expected to vote in January on a Democratic proposal to extend them for three years, the effort faces significant hurdles in the Senate.