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SBA staff would face new conflict-of-interest rule on small business loans

Passed one chamberH.R. 7401Latest action

Sponsor: Daniel Meuser · Representative · PA

AIDecoded by AI · checked against the record
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Official title: Small Business Lending Fraud Prevention Act

119th Congress

Topics: Jobs & the economy

Introduced:

Read the official bill on Congress.gov

In plain words

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SBA employees handling loan decisions would have to certify in writing they have no conflict of interest.

35-second read · 4 questions answered below

What does this do?

HR 7401 requires SBA employees who create, review, or approve loans to sign a written certification confirming they have no conflict of interest, based on existing federal ethics laws. If a conflict arises later, they must tell their supervisor and stop working on that loan. The SBA must write regulations within 180 days, and the requirement takes effect 270 days after enactment.

Who does it affect?

SBA employees involved in loan decisions are directly affected; small business owners applying for SBA-backed loans are indirectly affected.

Why does it matter?

The rule adds paperwork and compliance steps for SBA staff and is intended to reduce the risk of fraud or favoritism in loan decisions.

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Where does it stand?

  1. IntroducedFeb 5, 2026
  2. House committee
  3. House vote
  4. SenateYou are here · Jul 13, 2026
  5. The president's desk

Right now: it passed the House, and the official record shows nothing new since. If the Senate changes it, it goes back to the House before reaching the president.

Latest action: — Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Data as of October 9, 2026

Recorded votes

Roll-call votes recorded since January 3, 2025.

  1. House · · Roll call 225

    As recorded

    Question
    On Motion to and Pass
    Result:
    Passed
    415
    Nay
    0
    1
    15

    Republicans 209 yes, 1 present, 8 not voting · Democrats 205 yes, 7 not voting · Independent 1 yes

    Official record
    How members voted

    The official record lists how each member voted.Official record

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