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DOE loan program's rapid loan closings draw inspector general scrutiny over conflicts and risk
Summary
The Department of Energy Loan Programs Office closed an unusually large volume of loans in late 2024 and January 2025, prompting OIG concerns about conflict-of-interest controls, risk mitigation measures and whether due diligence kept pace with the accelerated schedule.
The Department of Energy's accelerated pace of loan approvals late in 2024 and in January 2025 prompted sustained questioning from House Energy and Commerce Committee members and warnings from oversight officials about organizational conflicts of interest and insufficient risk mitigation.
Jonathan Black, chief advisor for strategic planning and program oversight in the DOE Office of Inspector General, told the committee the OIG had warned in July 2022 and again in a December 2024 report that the Loan Programs Office (LPO) lacked sufficient controls to identify and manage organizational conflicts of interest. Black said the LPO contracts with hundreds of…
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