On Tuesday, March 24, 2020, Congressman Al Green will introduce three bills essential to the House Financial Services Committee’s omnibus COVID-19 package. The package was announced by Chairwoman Maxine Waters last week.

Congressman Green chairs the Subcommittee on Oversight & Investigations. He released the following statement: Congressman Al Green stated, “In the wake of the unprecedented COVID-19 pandemic, I have put forth three critical legislative solutions. One offers zero interest loans to strengthen minority depository institutions (MDIs). The second provides resources for fair housing and enforcement. The third restores confidence in smaller banks and among depositors by lifting the current $250,000 limit on deposit insurance.”

“This pandemic has triggered a state of emergency across the globe,” he added. “As we discuss relief efforts for various industries that are essential to the U.S. economy, it is imperative that we work to relieve small businesses and persons whose previously limited resources may be taxed by such dire straits. This is why I have worked with Chairwoman Maxine Waters of the House Financial Services Committee to include legislation in her omnibus COVID-19 package that will safeguard these entities.”

Congressman Green concluded by saying, “There is a critical need for this legislation. If we don’t offer this safety net for our MDIs – many of which are already endangered and decreasing exponentially as time passes, we risk losing many of those that remain. If we don’t provide resources to boost fair housing and enforcement, we may find many Americans compromised by pandemic-related financial scams. Finally, we must maintain confidence in our banks, so depositors

are assured that their funds are protected.”

“I must thank Chairwoman Waters for her diligent committee leadership and for including these bills in her omnibus COVID-19 package. I look forward to these bills and the full package passing th House of Representatives.”