In fact, the study identified $76.3 billion in potentially fraudulent loans, $21.3 billion of which were originated by FinTech lenders and further found that FinTech loans are more than 3.5 times as likely to be initiated by someone with a criminal background.

As a result, the study has led to negative press coverage and increased reputational risk for some FinTech lenders. In a StoneTurn Client Alert, Ryan LaRue suggests three practical steps FinTech lenders must consider to mitigate legal and reputational risks related to the PPP loan study.

Read the Client Alert.