This story appeared in Bank Digest.
A bipartisan group of 23 members of Congress have sent a letter to the Small Business Administration and the Treasury Department asking what tools and resources SBA may need, that Congress could provide through appropriations and statutory authority, to be able to fully investigate PPP loan fraud. The letter follows a report published by the SBA Inspector General in July 2020 that stated there are “strong indicators of widespread potential fraud” within two of the fiscal relief programs enacted and expanded by Congress to provide relief to small businesses as they face the economic crisis brought upon by the COVID-19 pandemic.