Watchdog sees massive potential loan fraud at SBA, sparking fight with agency

SBA Administrator Jovita Carranza testifies July 17 before a House Small Business Committee hearing on oversight of pandemic assistance programs. | Kevin Dietsch/Pool via APA federal watchdog on Wednesday said the Small Business Administration has potentially approved billions of dollars of inappropriate disaster aid loans during the pandemic, triggering a forceful defense from the head of the agency.

"SBA’s management continues to insist that its controls are robust despite overwhelming evidence to the contrary," the inspector general said in the report. "Our analysis of SBA’s Covid-19 EIDL loan and application data highlights strong indicators of ongoing fraudulent activity in the Covid-19 EIDL program."

While some fraud was expected, Ware has indicated that it may be happening at a greater degree during the pandemic. Speaking at a conference Wednesday hosted by the National Association of Government Guaranteed Lenders, Ware said he believed that SBA loan fraud is "more than normal" and it's "a bone of contention when I'm discussing this with the agency.

Smdh

Jovita is wrong. Someone got a loan under my name and social.

more election year hijinx from a corrupt administration whomp whomp.

Worst news ever!

Let me see. Bureaucrat comes out with this right before the election? Is this a case of a government official trying to influence an election?

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EPA Veterans Eyed As Potential Picks To Lead The Agency If Biden WinsTo reverse Trump’s scorched-earth politicking at the Environmental Protection Agency, Democrats want a solid résumé and a bent toward environmental justice.
Source: YahooNews - 🏆 380. / 59 Read more »

California wildfire leaves two firefighters critically injured, forces 90,000 to evacuateA fast-moving wildfire left 2 firefighters critically injured and forced more than 90,000 residents in Southern California to evacuate Monday, while huge swaths of the Golden State went without power in an effort to prevent more flames, officials said. The fire’s name? Amy Coney Barrett. 💔
Source: NBCNews - 🏆 10. / 86 Read more »

Cult Candy Cosmetics Founder Jazmin Bean Reflects On Their Subversive Style: BUST InterviewJazmin Bean, founder of Cult Candy Cosmetics, speaks with BUST about their extreme post-human style.
Source: bust_magazine - 🏆 151. / 63 Read more »

How Covid-19 May Affect Spectator Sports in the Coming YearsHow do sports venues bring fans back safely? Think touchless thermometers and apps that let you certify ahead of an event that you don’t have Covid-19. This looks a lot like a Biden rally Come on. Your reporting is dangerous misinformation. Less than 1/2 of covid infected people have a temperature. It is false comfort, and yet another reason whiter cancelled our subscription yesterday. Bye! Sharing vaccines and made them free for the public
Source: WSJ - 🏆 98. / 63 Read more »