April 20th, 2020 by WCBC Radio
Today, Representative David Trone (MD-06) announced that he joined Representatives Ayanna Pressley (D-MA-07) and Gregory Meeks (D-NY-05) and Senators Kamala D. Harris (D-CA) and Sherrod Brown (D-OH) along with more than 80 of their Democratic colleagues in calling for the Small Business Administration (SBA) and Treasury Department to ensure that minority-owned businesses are not shut out of the Paycheck Protection Program (PPP).
The lawmakers also called for the Administration to amend guidance on PPP to reaffirm lending institutions’ obligation to comply with fair lending laws and to require lenders to report on the demographics of any PPP lending.
“I have talked to hundreds of business owners in Maryland, and the message is loud and clear: we need help and we need it now,” said Congressman David Trone. “As important as it is for Congress to put aside the partisan talking points and fund these programs, we also must make sure the funding is getting into the hands of people who need it most. The transparency we are calling for will help ensure this happens.”
In the letter, the lawmakers write: “As we work to secure additional funding for the survival of small businesses across the country, it is crucial that we can verify the accessibility of federal assistance to all eligible companies. Without stringent reporting, we can neither confirm racial disparities nor correct any exclusionary lending practices under the Paycheck Protection Program. The story of minority-owned businesses struggling to access capital is the story of banking practices that too often exclude people of color as potential customers. A federally guaranteed loan program must not do the same. We urge you to move forward with the data transparency and fair lending protections outlined in this letter.”
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April 20, 2020 at 2:55 pm, dave said:
silly me I would have thought there already are laws that state you can’t discriminate against anyone who is eligible.
April 20, 2020 at 3:23 pm, Martin D Fornwaly said:
I not sure this guy read the news! Pelosi, put BILLIONS ON THEIR GREEN DEAL BULLCRAP! $35 OR $40 MILLION ON THE KENNEDY CRNTER! WHICH IS WHERE HER DAUGHTER WORKS! CROOKS KEEP CROOKS PAID FAMILY POLITICAL BULLCRAP! DEMOCRATS LOADED, OR TRIED TO LOAD UP THE BILL THAT WAS TO HELP AMERICAN’S! ANYONE GOT THEIRS YET? AND! THE $1,200, COMES FROM YOUR TAX RETURN MONEY! THE MONEY THEY ARE NOW STEALING IS FROM BILLIONS STOLEN FROM OUR SOCIAL SECURITY! WHICH MONTHS AGO PELOSI STOLE $2 BILLION FROM SOCIAL SECURITY TO COVER AND POCKET THE 3 YEAR HOOKS TO IMPEACH OUR PRESIDENT! YA! BRAG IN THE PAPER THAT YOU BACK THIS CRAP!
April 21, 2020 at 6:34 am, Mark said:
This is just b.s. ‘identity’ politics at it’s worse. What’s NOT mentioned is how BOTH parties wrote the previous bill so it allowed huge multi-billion dollar profitable companies to swoop in and collect 80/90% of the so-called ‘SMALL business FORGIVABLE loans’ One more instance of a corrupt Congress paying off their big donors. Just like any corrupt banana republic would do.