Government must publish detailed data on small-loan fraud and defaults.
H.R. 9691 — 7(a) Program Risk Oversight Act · Filed by Nydia Velázquez (D-NY) · Introduced Jul 14, 2026 · Referred to committee
Your members of Congress
Enter a ZIP to see where your representative and both senators stood on this bill.
Looked up on this device — your ZIP is never stored on our servers.
What it does
The bill tells the Small Business Administration to publish more detailed reports each year. The reports must show loan defaults, fraud, and risk. They break down data by loan size and loan age. They also break down data by type of person and type of lender. Reports must be made public within 7 days of being sent to Congress. The bill does not change how the 7(a) program works.
Who it affects
People and small-loan borrowers can see how well government loan guarantees are working. They can see where fraud or defaults happen most. Reporters and researchers can use this data to study the program. They can see if it helps the people it is meant to help.
One thing to notice
The bill removes the government's power to decide when or how to release data. Public reports within 7 days stop the government from delaying or picking which facts to share.
From the analysis of the bill text, linked under Primary records below.
Where it stands
- Jul 14, 2026 — Introduced · Congress.gov: “Introduced in House”
- Jul 14, 2026 — Referred to House Committee on Small Business · Congress.gov: “Referred to the House Committee on Small Business”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- defaults — When a person stops paying back a loan.
- fraud — Lying or cheating to get money or a loan you should not get.
- Small Business Administration — A government office that helps small companies get loans and other help.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (4,477 characters) on Aug 12, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 14,707 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-09-23.
“Government must publish detailed data on small-loan fraud and defaults.” QuorumCivic. https://share.quorumcivic.app/bill/119/hr9691/simple Report an error