; and (II) in conducting a review under subclause (I), may not rely on self-certification by a small business lending company that the small business lending company is in compliance with those requirements. (iii) Regulations Not later than 1 year after the date of enactment of the Modernizing SBA's Business Loan Programs Act of 2023 , the Administrator shall, in consultation with other appropriate Federal agencies, issue regulations to provide a framework to ensure that small business lending companies are in compliance with the requirements under the Bank Secrecy Act, including Know Your Customer and anti-money laundering requirements, and any applicable consumer protection laws, including the Truth in Lending Act ( 15 U.S.C. 1601 et seq. ), the Equal Credit Opportunity Act ( 15 U.S.C. 1691 et seq. ), and the Gramm-Leach-Bliley Act ( Public Law 106–102 ; 113 Stat. 1338). ; (5) in paragraph (4), as so redesignated, by inserting Notification .— after (4) ; and (6) in paragraph (5), as so redesignated, by inserting Delegation .— after (5) . 207. Office of Credit Risk Management Section 47 of the Small Business Act ( 15 U.S.C. 657t ) is amended— (1) in subsection (c)— (A) in paragraph (1), by inserting before the period at the end the following: with a demonstrated career in or outstanding qualifications or expertise related to finance and financial risk management. The Director shall report directly to the Administrator ; and (B) by adding at the end the following: (3) Compensation The Administrator shall fix the compensation of the Director— (A) as necessary to carry out the duties of the Office; and (B) in an amount that is not less than the highest rate of basic pay for the Senior Executive Service under section 5382(b) of title 5, United States Code. ; and (2) in subsection (h)(2)— (A) in subparagraph (I), by striking and at the end; (B) in subparagraph (J), by striking the period at the end and inserting a semicolon