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SBA trolling for more comment on lender oversight
WASHINGTON (3/26/08)—The Small Business Administration (SBA) this week announced a series of meetings intended to gather public comments on a proposed rule on lender oversight and credit risk management, which includes SBA's oversight of participants in the 7(a), 504 and Microloan lending programs. In October 2007, the SBA published a proposed rule to incorporate SBA's risk-based lender oversight program into SBA regulations and In December of that year extended the comment period on the proposed rule to Feb. 29, 2008. The comments submitted during that period are “greatly assisting SBA with its deliberations” on the proposal, according to an agency release. However, the series of comment meeting is intended to “broaden public participation by offering the public an opportunity to meet with SBA in person and communicate their comments.” The proposed regulatory framework was designed to enhance SBA's Office of Credit Risk Management's (OCRM) ability to maximize the efficiency of SBA's lending programs by effectively managing program credit risk, monitoring lender performance, and enforcing lending program requirements. It is SBA's intent that the proposed framework would also incorporate the mission of SBA to assist small business access to credit. Participants may request to comment orally or through a written statement. Oral comments will be limited to five minutes. The meeting format will consist of a panel of SBA representatives who will moderate the oral comments. The meetings kick off in San Francisco on April 1, although the official registration period for that session closed Tuesday. The next session is April 3 in Los Angeles. Use the resource link below for more information on the other comment meetings and registration details.
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