Kabbage, a bankrupt fintech lender, settles PPP fraud case with DOJ

Kabbage, a bankrupt fintech lender, settles PPP fraud case with DOJ

  The small business lender’s bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.