Watchdog: Treasury Too Secretive About Small Business Loans
NEW YORK (AP) — The Trump administration has relented to public pressure and pledged to provide more details about which small businesses received loans from a $600 billion-plus coronavirus aid program.
But government watchdogs say even more transparency is needed to get an accurate picture of who was helped, and who was left out.
Under pressure from Democratic lawmakers and government watchdogs, the Treasury Department and the Small Business Administration said Friday they would disclose the names of small business owners who received $150,000 or more in forgivable loans.
The agencies will reveal the general amount these businesses received, their address and demographic data.
But for loans of less than $150,000, the agencies will not name the recipients, revealing only summary information.