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Waters Leads Letters Calling on Regulators and Financial Institutions to Protect Americans and the Financial System from Impact of Coronavirus
Washington, DC, March 11, 2020
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, led six letters to Administration officials, prudential regulators, financial services organizations and credit reporting agencies expressing concerns about risks related to coronavirus disease 2019 (COVID-19) and the steps they are taking to prevent Americans and the financial system from being harmed.
“The Financial Services Committee is taking action to respond to the serious threat that the novel coronavirus is posing to our nation. Today, I and Members of the Committee have sent letters to the Department of the Treasury, the Department of Housing and Urban Development, the Department of Justice, the Federal Bureau of Investigation, the Securities and Exchange Commission (SEC), the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the National Credit Union Administration (NCUA), the Consumer Financial Protection Bureau (CFPB), a number of financial industry trade associations, and the major consumer credit reporting bureaus, all to ensure that Americans are protected from the potential negative financial impacts of the coronavirus pandemic. The Committee will be holding bipartisan staff briefings from the Administration, regulators, market participants, economists, and stakeholders, and we will convene a full Committee hearing this month on the readiness of our financial system to weather a pandemic.
The full text of the letter to the Department of the Treasury is available here.