7(a) Program Risk Oversight Act

119 HR 9691 IH: 7(a) Program Risk Oversight Act
U.S. House of Representatives
2026-07-14
text/xml
EN
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I119th CONGRESS2d SessionH. R. 9691IN THE HOUSE OF REPRESENTATIVESJuly 14, 2026Ms. Velázquez introduced the following bill; which was referred to the Committee on Small BusinessA BILLTo amend the Small Business Act to modify the annual report of the Office of Credit Risk Management, and for other purposes. 
1.Short titleThis Act may be cited as the 7(a) Program Risk Oversight Act. 2.Modifications to annual report of the Office of Credit Risk Management (a)In generalSection 47(h) of the Small Business Act (15 U.S.C. 657t(h)) is amended— 
(1)in paragraph (2)— (A)in subparagraph (A), by inserting before the semicolon the following: , and the program risk set forth separately by the type of loan guaranteed under such section; 
(B)by redesignating subparagraphs (D) through (J) as subparagraphs (H) through (N), respectively; (C)by inserting after subparagraph (C) the following: 
 
(D)an analysis of the program risk for loans guaranteed under section 7(a), set forth separately for the year covered by the report by such loans with a dollar value of— (i)less than or equal to $50,000; 
(ii)greater than $50,000 and less than or equal to $250,000; (iii)greater than $250,000 and less than or equal to $350,000; 
(iv)greater than $350,000 and less than or equal to $500,000; (v)greater than $500,000 and less than or equal to $1,000,000; and 
(vi)greater than $1,000,000 and less than or equal to $5,000,000; (E)an analysis of the program risk for loan guarantees made under section 7(a), set forth separately for the year covered by the report for loans that were originated— 
(i)less than one year before the date of submission of the report; (ii)at least one year, but not more than two years before such date; and 
(iii)more than two years before such date; (F)an analysis of program risk for loan guarantees made under section 7(a), set forth separately for the year covered by the report for loans that were originated to— 
(i)a borrower that uses such loan to open a business; (ii)a borrower not described in clause (i) that is a business concern that has been in operation for less than or equal to two years before the date of origination; and 
(iii)a borrower that is a business concern that has been in operation for more than two years on the date of origination; (G)an analysis of the program risk for loans made under section 7(a), set forth separately for the year covered by the report for loans that were originated by— 
(i)a bank holding company (as defined in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841)); (ii)an insured credit union (as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752)); 
(iii)a State credit union (as defined in such section 101) for which insurance is provided by a private deposit insurer (as defined in section 43(e)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1831t(e)(4))); (iv)a small business lending company (as defined in section 3), including a Community Advantage Small Business Lending Company (as defined in section 120.10 of title 13, Code of Federal Regulations (or any successor regulation)); and 
(v)a non-Federally regulated lender; ;  (D) in subparagraph (H) (as so redesignated), by striking subparagraphs (A), (B), and (C) and inserting subparagraphs (A) through (G);
                     
(E)by amending subparagraph (J) (as so redesignated) to read as follows:  (J)the number and total dollar amount of purchases by the Administrator of the principal and interest of loans guaranteed under section 7(a) that are in default, the total dollar amount of collections recovered on such purchases, and the number and total dollar amount of charge-offs for such purchases, set forth separately by the type of institution that originated the loan as described in subparagraph (G);; 
(F)in subparagraph (M) (as so redesignated), by striking and at the end;  (G) in subparagraph (N) (as so redesignated), by striking the period at the end; and
                                         
(H)by adding at the end the following new subparagraphs:  (O)of the enforcement actions described in subparagraphs (K) and (L), the number of such actions taken for fraud; 
(P)of the civil monetary penalties assessed under subparagraph (N), the number of such penalties assessed for fraud; (Q)the number and total dollar amount of loans guaranteed under section 7(a) that are between 31 and 59 days past due, deferred, or delinquent, set forth separately by the type of institution that originated the loan as described in subparagraph (G) of this section; and 
(R)the number and total dollar amount of loans guaranteed under section 7(a) that the Administrator has determined to have been made fraudulently, set forth separately by the type of institution that originated the loan as described in subparagraph (G) of this section.; and (2)by adding at the end the following: 
 
(3)Availability of reportThe Director shall make available to the public on a website of the Administration the report required under paragraph (2) not later than 7 days after the Director submits such report to Congress.. (b)Technical amendmentSection 47(d) of the Small Business Act (15 U.S.C. 657t(d)) is amended by striking premise each place it appears and inserting premises.