SBA Seeks Comment on New Credit Risk Management Rule

Lora Bentley

With the subprime scandal, the credit crunch and the government scurrying to make regulatory adjustments that will help, lender oversight and credit risk management are hot topics at the moment. The U.S. Small Business Administration wants you to have a piece of the action, too.


On Thursday, the SBA announced it is accepting additional comments on a proposed lender oversight rule. However, instead of submitting comments in writing, the public is invited to voice its comments during one of several meetings that will occur in various cities across the country in the next two weeks. The first meeting took place in San Francisco on April 1, and the last will be in Chicago on April 18. For a full schedule, see here. Advanced registration is required to attend.


In a statement, the SBA's Steve Preston said:

We are committed to transparency, and there is no better way to demonstrate it than soliciting public participation in the rulemaking process. SBA considers these meetings a valuable component of its deliberations. Providing a mechanism beyond the single written round of notice and comment will enable the SBA to better understand the views of the public and will assist us in assessing and refining the proposed rule.

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