Dome of U.S. Capitol in a black and white photo. Source: Shutterstock.

A bill introduced late last week aims to exclude the Small Business Administration (SBA) from engaging in any direct lending programs. The legislation, introduced by Rep. Blaine Luetkemeyer (R-Mo.), would also reform the SBA under the IMPROVE the SBA Act – a move both NAFCU and CUNA fully support.

In a statement, Rep. Luetkemeyer said, “Due to the pandemic, the Small Business Administration has been given an oversized role in the management of emergency relief programs. Through oversight, we have discovered the SBA is fraught with fraud, delays and mismanagement. We have also seen the SBA shift away from its core mission of serving small businesses to instead advancing the current administration’s political agenda.”

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Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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