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House Passes Heroes Act, Critical Financial Services Committee Provisions Included
This week, the House passed the Heroes Act (H.R. 6800), critical legislation to respond to the COVID-19 pandemic crisis.
The legislation includes numerous provisions proposed by Members of the House Financial Services Committee:
See here for a one-pager on the Financial Services Committee provisions in the Heroes Act.
See here for fact sheets on how the bill helps renters, homeowners, individuals experiencing homelessness, first responders, essential workers, consumers, small businesses, non-profits, public universities, states, tribes and localities.
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Member Spotlight
Congressman Juan Vargas (D-CA)
Vargas Bill to Boost Production of Medical Supplies Passed as Part of Heroes Act by House
“The administration is responsible for providing additional emergency supplies for our communities during the COVID-19 pandemic," said Congressman Juan Vargas (D-CA). “My bill will help categorize medical supplies, equipment, and testing as necessary materials for national defense, ensuring that the American people can access the supplies they so desperately need."
“We are putting our heroes and frontline workers at risk without proper access to, and a higher level of production of, these necessary materials. The president must utilize the full extent of his authority by invoking the Defense Production Act and ensuring every possible resource is dedicated to combating COVID-19
For additional details on the Congressman’s bill see here.
Chairwoman’s Corner
Waters Issues Statement on Oral Arguments Before Supreme Court on Trump V. Deutsche Bank AG
“I am pleased that the Court has taken the historic step of convening virtually and livestreaming oral arguments during the COVID-19 pandemic,” said Chairwoman Waters. “Over a year ago, the Committee issued lawful subpoenas to Deutsche Bank and Capital One for financial records as part of a broader investigation into money laundering and the safety and soundness of lending practices at financial institutions. The Trump family’s intervention to block the banks’ compliance with these subpoenas led to this case. I would like to thank House General Counsel Doug Letter for his strong arguments in defense of the House’s institutional prerogatives in this regard. I look forward to the final ruling.”
See the full text of the statement here.
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Tweet of the Week
Committee Holds First Bipartisan Virtual Roundtable with Prudential Regulators
On Wednesday, the Consumer Protection and Financial Institutions Subcommittee held a virtual roundtable with prudential regulators entitled, “Update from Prudential Regulators.”
The virtual roundtable panelists included:
Watch the virtual roundtable discussion:
Weekend Reads
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