CFA sent a memo to the Biden Harris Transition Team and Congress highlighting the need for policies that protect consumers’ physical and financial wellbeing. CFA urged the new Administration and Congress to support these consumer protections in the next COVID-19 relief legislation and take administrative actions to provide families with the temporary relief they need to get through this unprecedented emergency.
Over the past nine months, the COVID-19 pandemic has been ravaging the lives of millions of Americans. As COVID-19 continues to spread across the country at alarming rates, it’s devastating impact on the American economy and household finances is continuing to cause tremendous financial distress for families and small businesses. Due to underlying health and socioeconomic disparities, low- and moderate-income families and communities of color, especially Black, Latinx, and Native American communities, have been hit particularly hard by illness, unemployment, and economic instability. These consumer protections are desperately needed throughout the country.