April 24, 2020

STATEMENT BY SUPERINTENDENT OF FINANCIAL SERVICES LINDA A. LACEWELL ON THE LATEST FEDERAL ECONOMIC RELIEF PACKAGE FOR COVID-19:  

“Today’s action delivers much-needed cash flow to Main Street small businesses, the engines of our economy. This latest round of $484 billion in economic relief rightfully sets aside $30 billion to be distributed by community banks, credit unions, and Community Development Financial Institutions - that have strong ties with local, minority, women, and veteran-owned businesses, that require smaller loans. This is the right move for the little guy on Main Street and we must continue to close loopholes being leveraged by the big players on Wall Street. I urge the nation’s large banks to follow and to put the welfare of our small businesses ahead of fees and profits.“