The record

LegislationLegislation· Jul 2026
HR 7401 Passed House — in Senate

Sponsored by Daniel Meuser (R)

Small Business Lending Fraud Prevention Act

Requires SBA employees to certify they have no conflicts of interest before handling loan decisions.

Tradeoff

Adds a written certification requirement for SBA staff involved in loans, with no stated cost or funding offset.

What's in it

See official bill text

Costs less than $500,000 over 2026-2031 to implement conflict-of-interest attestation requirements for SBA loan officers.

The $500,000 is just the federal cost for the SBA to write rules and process attestations; the policy's real impact is a compliance requirement on SBA staff to disclose and manage conflicts of interest in loan approvals.

H.R. 7401, Small Business Lending Fraud Prevention Act · Apr 2026

The House passed this 415-0 on June 24, 2026 — now in the Senate.

  1. House

    Introduced

    (Feb 5, 2026)

  2. House

    Committee on Small Business(Feb 5, 2026)

  3. House

    The Committee on Small Business voted to send it to the floor

    Reported 24 - 0(Feb 11, 2026)

    Committee report H. Rept. 119-500.

  4. House

    On Motion to and Pass

    Passed(Roll #225 · Jun 24, 2026)

    415 yeanay 0

  5. Senate

    Received from the House

    on Small Business and Entrepreneurship(Jul 13, 2026)

Passage votes so far· Jun 24, 2026· 119th Congress · 2025–2027