WASHINGTON, D.C. - Center for Responsible Lending (CRL) Director of Federal Advocacy Ashley Harrington released the following statement today ahead of a vote where the Senate is expected to approve its deal with the White House on a phase three spending bill to address the economic impact of the COVID-19 public health crisis:
This bill falls short of providing full relief for hard-working families across the country, especially for LMI families and communities of color who are getting hit hard by this pandemic. In a time of crisis, taxpayer dollars shouldn’t be used to only bail out major corporations, they should be coupled with commonsense consumer and borrower protections--like safeguards against abusive payday lending practices and broad cancellation of student loan debt. Congress must swiftly pass a bill that focuses more on the public’s financial interests, otherwise people's income insecurity is going to mirror or be worse than the horrors of the Great Recession.
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