Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Lawmakers press SBA on COVID‑era fraud and recoupment; agency cites $400M identified and ongoing recovery work
Summary
Members pressed the SBA about suspected fraud in COVID‑era programs and the scale of recoupment; the agency said it has identified roughly $400 million of fraudulent applications in early reviews and is pursuing recoupment and referrals to Treasury.
A central line of questioning at the Jan. 15 hearing focused on fraud uncovered in COVID‑era SBA programs and what the agency is doing to recover misspent funds.
Multiple members cited large estimates of fraud in pandemic programs. The chair and several lawmakers referenced prior findings that pandemic-era lending and grants were subject to widespread fraud; one member said earlier reviews put potential fraud at "over…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
