Small Business Lending Fraud Prevention Act

This bill requires employees at the Small Business Administration (SBA) who work on reviewing or approving SBA loans to sign a written statement saying they do not have any conflict of interest with the loan, that they will report any conflict that comes up later, and that they understand the rules about conflicts of interest. Current law already requires federal employees to report financial conflicts of interest and step aside from matters where they have one. The SBA would also be required to create official rules to carry out these new requirements.

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