According to the Washington Post's Small Business Blog, current SBA leader Steven Preston could soon take over as head of the Housing and Urban Development Department following the resignation of the previous director, Alphonso Jackson. The Senate Banking Committee has scheduled a hearing for Tuesday, May 20, to examine the proposed move.

After receiving approval from the banking panel, Preston would still have to seek approval from the full Senate. The blog's sources said that if Preston is confirmed as head of the housing department, SBA Deputy Administrator Jovita Carranza is expected to take his place as head of the SBA.