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Committee Launches COVID-19 Online Resource Center
This week, the House Financial Services Committee launched an online resource center to increase access to information for consumers, renters, homeowners, small business owners, investors and others who may have questions about the Committee’s fiscal stimulus and public policy responses to the COVID-19 crisis.
For the most up-to-date information on the Committee’s ongoing response efforts and how these efforts will impact the American public, visit https://democrats-financialservices.house.gov/.
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Holding the Administration and Prudential Regulators AccountableFollowing the passage of the CARES Act, Chairwoman Waters sent a series of letters to Administration officials and prudential regulators to ensure the law benefits workers, families, and the rest of the American people it was intended to help as a result of the Coronavirus pandemic.
Click below for additional details on the letters from the Chairwoman.
- Waters to Mnuchin: The Committee Will Closely Monitor Your Implementation of the CARES Act
- During COVID-19 Crisis, Waters Calls on Treasury and SBA to Allow All Local, Community Financial Institutions to Participate in Program to Support Small Businesses
- Waters Calls on SEC and Treasury to Resist Efforts to Roll Back Protections for Non-Traditional Workers During COVID-19 Crisis
- Waters to Mnuchin and Carranza: Paycheck Protection Program Funds Must Not Be Used to Pay Private Equity or Other Funds
Weekend Reads
Chairwoman’s Corner
Waters Spells Out Congressional Intent of the CARES Act to Trump Administration
On Tuesday, Chairwoman Waters released an extended statement for the record on the CARES Act.
The statement provides guidance to the Trump Administration on congressional intent behind the law, and serves to fill out the congressional record in the absence of Committee consideration of the legislation.
“I am pleased that this legislation includes important provisions that Democrats fought for to support individuals, families, workers, small businesses and communities, and support the bill’s passage,” said Chairwoman Waters in the statement. “But, the legislation is far from sufficient to fully support our nation through this crisis.”
See the full text of the Chairwoman’s statement here.
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Member Spotlight
Congressman Brad Sherman (D-CA)
Chair of the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets |
“I am introducing this legislation to prevent the credit scores of people who are unable to pay their bills as a result of the coronavirus pandemic from being needlessly impacted,”
- Congressman Sherman on his bill to prohibit negative consumer credit reporting during the pandemic.
Congressman Sherman introduced three bills that were included in the Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act (H.R. 6321), a package of legislation introduced by Committee Democrats to provide a comprehensive stimulus and public policy response to the coronavirus pandemic.
These bills and numerous other provisions from H.R. 6321 are part of the Take Responsibility for Workers and Families Act, House Democrats’ phase three coronavirus response bill to inject more than $2.5 trillion into the American economy.
Committee Answers FAQs on the CARES Act
On Wednesday, the House Financial Services Committee, led by Chairwoman Maxine Waters (D-CA), released a document with answers to frequently asked questions regarding financial services provisions in H.R. 748, the Coronavirus Aid, Relief and Economic Security Act (CARES Act), legislation that was passed into law to provide relief to those who are impacted by the Coronavirus pandemic.
See Chairwoman Waters’ extended statement on the CARES Act here and answers to frequently asked questions here.
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