|
Waters and Brown Call on Administration to Stabilize the Housing Market During COVID-19
On Wednesday, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, sent a letter to Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin urging them to ensure the stability of the housing market in the face of the Coronavirus pandemic.
See the full text of the letter here.
|
|
Tweet of the Week
Waters Urges Fed to Address Concerns Regarding COVID-19 Programs and Facilities Needed to Support Small Businesses and the Economy
On Thursday, Chairwoman Waters sent a letter to Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, urging him to address concerns regarding the implementation of programs and facilities authorized by the CARES Act.
In the letter, the Chairwoman outlined numerous issues including the Federal Reserve’s narrow design of the Municipal Liquidity Facility; exclusion of lenders and organizations looking to participate in the Main Street Lending Program; limits to certain Paycheck Protection Program (PPP) lenders who wish to access the PPP Liquidity Facility; and other improvements that should be made regarding the Primary Market Corporate Credit Facility, Secondary Market Corporate Credit Facility, and the Commercial Paper Funding Facility.
See the full text of the letter here
|
|
Member Spotlight
Congressman Michael San Nicolas (D-GU)
Vice Chair of the House Financial Services Committee |
Congressman San Nicolas on Committee Democrats’ package of legislation to provide a comprehensive response to the coronavirus pandemic and his provision to waive matching requirements for municipal governments:
“This measure includes individual components led by various Members of the Financial Services Committee who came together to package comprehensive stimulus measures for all Americans. Territories are fully included, and we have also contributed to all of America by leading a provision to waive federal matching fund requirements for local governments, saving millions that can go to pressing needs in individual communities throughout the country…”
Financial Services and Oversight Committee Chairs Seek Briefing on FDIC’s Readiness for Financial Crisis During Pandemic
On Monday, Chairwoman Waters, Congresswoman Carolyn B. Maloney (D-NY), Chairwoman of the Committee on Oversight and Reform, and Congressman Raja Krishnamoorthi (D-IL), Chairman of the Oversight Subcommittee on Economic and Consumer Policy, sent a letter to the Federal Deposit Insurance Corporation (FDIC) seeking information on the agency’s preparedness for a financial crisis as coronavirus poses a threat to the stability of the nation’s economy.
“In light of the ongoing coronavirus pandemic and resulting strains on the global financial system, we urge you to act immediately to establish robust crisis readiness,” the Chairs wrote.
See the full text of the letter here.
Weekend Reads
Chairwoman’s Corner
Waters Talks to Essence About the Impact of COVID-19 on Black America:
On Friday, Chairwoman Waters joined Essence for a Facebook Live Town Hall to discuss how the COVID-19 crisis is impacting the Black community.
During the interview, she answered viewers’ questions and addressed issues including the Paycheck Protection Program, upcoming Congressional stimulus packages, and protections for students, homeowners, renters and small businesses.
Click here for the full interview.
|
