Important regulatory updates from ACTION Campaign, Financial Services Committee & NLHA

Important regulatory updates from ACTION Campaign, Financial Services Committee & NLHA

Housing Credit Proposals for COVID-19 Relief

The ACTION Campaign and partners have developed a list of Housing Credit proposals for COVID-19 relief. HAG, as a member of the ACTION Steering Committee and Legislative subcommittee, was instrumental in devising this proposal. We will be working closely with our Hill champions to advance these proposals in future COVID-19 relief packages. Read the proposals.

Committee Democrats Call on Regulators to Suspend CRA and Other Rulemakings Unrelated to COVID-19

This week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, led a letter to Joseph Otting, Comptroller of the Currency, and Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation, urging them to prioritize a strong response to the COVID-19 pandemic and suspend efforts to revise the Community Reinvestment Act (CRA) and any unrelated rulemakings. The letter was signed by every Democrat on the Committee. Read the full statement.

Congress Working on Additional Relief: NLHA Efforts

The National Leased Housing Association (NLHA) has submitted a letter to Congress urging Members to provide emergency rental assistance for the many workers who will not be able to meet their rent obligations during this time. With Congress expected to act on a fourth COVID-19 relief package by the end of April, it’s important that we bring attention to issues affecting the affordable housing industry, including emergency rental assistance program for the millions of renters that have or will certainly see reductions in income.  NLHA has prepared talking points on rental assistance.

In a separate letter, the NLHA is also offering its recommendations related to forbearance, eviction suspensions, SBA loans and more. NLHA is encouraging you to reach out to your Members of Congress to and share these letters.

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