Remote Hearing on “Rooting Out Fraud in Small Business Relief Programs”

Summary

This House Select Subcommittee on the Coronavirus Crisis notice announces a remote hearing, "Rooting Out Fraud in Small Business Relief Programs," scheduled for Thursday, March 25, 2021, at 12:00 p.m. ET under Chairman James E. Clyburn. The notice says the hearing would examine how the Trump Administration's mismanagement of small business relief programs led to nearly $84 billion in potentially fraudulent loans. It states that the SBA OIG had published a flash report identifying $692 million in duplicate loans and that the American Rescue Plan invests an additional $142 million in oversight of PPP and EIDL. Witnesses listed are Michael E. Horowitz, Dr. William B. Shear and Hannibal "Mike" Ware.

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Remote Hearing on “Rooting Out Fraud in Small Business Relief Programs”

Meeting Status :

Scheduled

Hearing

Date :

Thu, 03/25/2021 - 12:00 PM

Location :

Select one, Washington, DC 20515

On Thursday, March 25, 2021, at 12:00 p.m. ET , Rep. James E. Clyburn, the Chairman of the Select Subcommittee on the Coronavirus Crisis, will hold a hearing with Small Business Administration (SBA) Inspector General Mike Ware, Pandemic Response Accountability Committee Chair Michael Horowitz, and Government Accountability Office Director of Financial Markets and Community Investments William Shear to examine how the Trump Administration's mismanagement of small business relief programs led to nearly $84 billion in potentially fraudulent loans.

Last June, the Select Subcommittee sent a letter to the SBA OIG flagging an error at SBA that allowed for duplicate loans. In September, the Select Subcommittee issued a preliminary analysis of Paycheck Protection Program (PPP) data, finding billions of dollars may have been diverted to waste, fraud, and abuse. Last week, responding to requests from the Select Subcommittee, the SBA OIG published a flash report identifying $692 million in duplicate loans.

To detect fraud in small business relief programs, including PPP and the Economic Injury Disaster Loan (EIDL) program, the American Rescue Plan is investing an additional $142 million into oversight of these programs. This hearing will also consider efforts to prevent future fraud and ensure the neediest small businesses receive relief, as intended by Congress.

Witnesses

Witnesses

The Honorable Michael E. Horowitz Chair, Pandemic Response Accountability Committee, Inspector General, Department of Justice

Dr. William B. Shear Director, Financial Markets and Community Investment, Government Accountability Office

The Honorable Hannibal "Mike" Ware Inspector General, Small Business Administration

Meeting Documents

Documents

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