Vance says 870K people suspected of COVID-era US fraud barred from federal loans

Vice President J.D. Vance announced the administration will bar roughly 870,000 people suspected of pandemic‑era small‑business loan fraud from getting future federal loans.
The SBA says the suspensions tie to about $39 billion in suspected fraud (about $49 billion when combined with earlier actions).
The Justice Department’s “Heartland fraud surge” led to actions against 160+ defendants (about $245 million in intended losses) and an expanded national fraud enforcement effort.