WASHINGTON, D.C. - Today, U.S. House of Representatives Speaker Nancy Pelosi (D-Calif.) and the House Democratic Caucus introduced their COVID-19 stimulus package, Take Responsibility for Workers and Families Act. Among the proposals, the bill includes provisions that support student loan debt cancellation and a halt on home foreclosures.
Center for Responsible Lending Federal Advocacy Director and Senior Counsel Ashley Harrington released the following statement:
This proposal is a great step toward providing families and workers much needed relief as the country continues to tackle the COVID-19 public health crisis. This bill prioritizes the public’s interest, includes consumer protections, and gives people some security that this crisis won’t leave them financially ruined. Student loan borrowers would especially benefit from this bill with some level of student debt cancellation, and homeowners would have peace of mind that they can stay in their homes without the fear of foreclosure. Congress should immediately act on this legislation—the public needs these kinds of solutions now.
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