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Idle on EIDL Fraud: How the Trump Administration Wasted Taxpayer Dollars by Leaving the COVID-19 EIDL Program Vulnerable to Fraud

House Committee on Oversight and Reform
; 
Select Subcommittee on the Coronavirus Crisis
Abstract
The Select Subcommittee on the Coronavirus Crisis of the House Committee on Oversight and Reform investigated the Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) program during the COVID-19 pandemic. Despite providing relief to eligible small businesses, $86 billion in EIDL funds reportedly went to applicants with fraud alerts. The investigation reveals that the Trump Administration, specifically the SBA, failed to implement basic safeguards to prevent fraud, directing loan reviewers to approve applications with serious fraud alerts without verification.
Date
2022-06-14
Document Type
House Staff Report
Serial Number
Document Length
39 pages
Congress
117
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URI
https://hdl.handle.net/20.500.14300/1200
Relation
DOI
Keywords
Staff Reports
PAP Major Code
15: Banking, Finance, and Domestic Commerce
PAP Minor Code
1523: Domestic Disaster Relief
Related Hearings
Press Releases and Contextual Information
Collections
House Oversight Committee