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Home » Senate bill would create $75B Homeowner Assistance Fund
Policy & Issues

Senate bill would create $75B Homeowner Assistance Fund

February 5, 2021
Cap1

Sen. Jack Reed (D-R.I.), introduced a bill this week to create a $75 billion Homeowner Assistance Fund. Reed introduced the bill with lead co-sponsors Sens. Sherrod Brown (D-Ohio) and Patrick Leahy (D-Vt.)

“This bill will help prevent mortgage defaults, foreclosures, and displacements of Americans who are still feeling the economic impact of this pandemic,” said CUNA President/CEO Jim Nussle. “We strongly support this bill and look forward to working with legislators to move it forward.”

The fund would be allocated in part based on a formula that weighs state unemployment claims relative to the number of national unemployment claims, according to the legislators.

Credit Union Magazine: Spring 2022

Spring 2022

Credit Union Magazine’s Spring 2022 edition profiles four Credit Union Heroes and examines CUNA's advocacy priorities, the advocacy army, and financial well-being for all.
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