We write on behalf of the undersigned organizations to urge you to include conditions in the next COVID-19 response legislation that require all organizations that receive federal financial support to retain workers, preserve workers’ rights, and institute policies and procedures to protect workers from exposure to the virus.
Joint letter: CARES Act must include conditions for all companies that receive Federal financial support
The next COVID response legislation, must include clear conditions for all companies that receive Federal financial support that require worker retention and protection as well as limitations that ensure that government money will not be used to profit corporate insiders and Wall Street speculators.
News Release: Consumer, Banking Groups Applaud Bill to Exempt Economic Impact Payments From Garnishment
Consumer groups and banking industry organizations joined together today to support bipartisan legislation that would prevent Economic Impact Payments from being subject to garnishment.
Joint Letter: Letter to CFPB Asking for Suspension of All Regulatory Activity Unrelated to COVID-19 and Greater Consumer Protections During the Pandemic
Letter from over 90 groups calling on the CFPB to stop all regulatory activity unrelated to COVID-19 and take greater steps to protect consumers during the pandemic.
Before the onset of the COVID-19 pandemic, black homeownership was already at historically low levels nationwide and the racial wealth gap was widening, leaving communities of color with far less wealth and fewer resources for emergencies. COVID-19 has been particularly devastating for African-Americans, low-income families, and immigrants, who are bearing the brunt of the resulting economic fallout as well.
In place of a heartless free market of panicked investors who might want to cut their losses and sell, the plan is to simulate real buying and selling of financial products like mortgages and bonds with directed deployments of the Fed’s endless trillions. And they will be endless … Marcus Stanley of Americans for Financial Reform said, “The Fed’s perspective on this is, they want to create normalcy.” But what does “normal” mean in an economy that may be changed forever?
Fact Sheet: Private Equity Industry Poised to Profit from the Federal Reserve’s New Lending Programs
Private equity funds could access government assistance for their portfolio companies while avoiding any responsibility to repay any debt or obligations to the public purse. Private equity firms could also tap government aid to finance leveraged buyout purchases of additional companies, using public money to load target companies with debt and drain their assets while avoiding any responsibility for paying that debt back.
Letter to Congress: 17 Organizations Urge Immediate Bipartisan Action to Begin Oversight Functions of the New House Select Subcommittee on the Coronavirus Crisis
It’s crucial the new House Select Subcommittee on the Coronavirus Crisis start oversight work as soon as possible. By doing so, the Subcommittee can make recovery efforts more effective and guarantee that government agencies are good stewards of public money.
News Release: New Bipartisan Poll Shows Strong Support for Student Loan Debt Cancellation During COVID-19 Pandemic
The Center for Responsible Lending (CRL) and Americans for Financial Reform (AFR) released a bipartisan poll today showing that Americans around the country and across partisan identities strongly support student debt reduction during the COVID-19 pandemic.
AFR and our partners sent a letter in support of including the Medical Debt Relief Act as part of future covid-19 relief.