A bill that would provide oversight of the new $30 billion Small Business Lending Fund, including putting an inspector general in charge, was introduced this week.

The Small Business Lending Fund Accountability Act of 2011 (H.R. 1387) would place the fund under the jurisdiction of the special inspector general for the Troubled Asset Relief Program Fund. The legislators that introduced the bill are concerned that banks that participated in TARP will use SBLF monies to refinance out of TARP rather than extend loans to small businesses.

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