Sector Regulation Sector Regulation

US SBA’s lax controls open door to 'pervasive' fraud in small business loan program, watchdog says

By Neil Roland
  • 29 Jul 2020 17:46
  • 29 Jul 2020 17:46
The US Small Business Administration’s porous internal controls have enabled fraud schemes, including organized rings that exploit social media, to bedevil much of a small business loan program, a watchdog said.
The SBA inspector general’s office said it has launched dozens of investigations into the $374 billion Economic Injury Disaster

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Neil Roland

Senior Correspondent

Neil has covered U.S. financial regulation for over two decades, mostly for Bloomberg and Crain Communications. He received a Loeb award for coverage of regulators' response to the collapse of Enron. He also garnered a SABEW award and some Jesse H. Neal awards for stories on the Federal Reserve's response to the 2008 financial crisis. Roland has appeared as a commentator on Fox TV, NPR, C-Span and Bloomberg TV. He received a Master's degree in public policy from Harvard and a Bachelors degree in economics from Cornell.

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