CU Trades, Consumer Groups Endorse Senate Homeowner Assistance Bill

Sen. Jack Reed (D-R.I.), Senate Banking Chairman Sherrod Brown (D-Ohio) and Senate Appropriations Chairman Patrick Leahy (D-Vt.) have introduced legislation to create a $75 billion Homeowner Assistance Fund, designed to help homeowners hit by the coronavirus crisis. The fund is targeted to prevent avoidable foreclosures, evictions and utility shutoffs. Credit union trade groups are supportive.