Back to News
Federal RegisterFederal
Privacy Act of 1974; System of Records
Plain English Summary
The U.S. Small Business Administration (SBA) has updated its rules regarding how it handles information related to disaster loans. Now, they can share information with the Department of the Treasury to help prevent and recover improper payments. This change affects anyone involved in disaster loans, including applicants and borrowers. Insurance agents should be aware of these updates as they may impact how they assist clients with disaster loan applications.
+View original text
In accordance with the Privacy Act of 1974, as amended, the U.S. Small Business Administration (SBA, "the Agency") is modifying the system of records for the Disaster Loans Case Files, SBA 20 to add a new routine use that allows information in each system to be disclosed to the Department of the Treasury for purposes of identifying, preventing, or recouping improper payments through Treasury's Do Not Pay Working System. Additional changes are proposed to reflect technical updates to the system. This system of records is used to maintain information on applicants, borrowers, principals, guarantors, and recipients of disaster home and business loans, advances, and grants.