SBA watchdog would file quarterly reports on COVID loan fraud
Passed one chamberH.R. 826Latest action
Sponsor: Roger Williams · Representative · TX
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Official title: COVID Fraud Transparency Act of 2026
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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The SBA would report to Congress every three months on fraud tied to PPP and EIDL loans.
40-second read · 5 questions answered below
What does this do?
HR 826 requires the SBA to report to Congress's Small Business Committees within 60 days of enactment and every three months after. Reports must cover loans issued, their total value, new and resolved fraud cases, and types of fraud found. The requirement ends automatically two years after enactment.
Who does it affect?
The SBA 's office takes on the new reporting duties, and Congress's Small Business Committees receive the reports. Small business owners who received PPP or EIDL loans could face indirect effects from increased scrutiny.
Why does it matter?
Regular fraud reporting could lead to more investigations or scrutiny of how pandemic-era loans were used.
What does it cost, and who pays?
- No new spending authorized
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Where does it stand?
- IntroducedJan 28, 2025
- House committee
- House vote
- SenateYou are here · Jun 24, 2026
- 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.