FTC Secures $59 Million Settlement over Fintech Firms’ Allegedly Misleading PPP Loan Claims
The FTC has reached settlement agreements with fintech firms Biz2Credit, Inc. and Oto Analytics, Inc. (doing business as Womply) to resolve allegations that the companies misled small businesses during the COVID-19 pandemic in their promotion and handling of Paycheck Protection Program (PPP) loans, violating the FTC Act and the COVID-19 Consumer Protection Act. Biz2Credit issued…