Removing Barriers Blog

CUNA supports S. 3620 legislation to establish a housing assistance fund
Posted June 05, 2020 by CUNA Advocacy

Earlier this week, CUNA wrote to Senator Reed in support of his recently introduced legislation to establish a housing assistance fund - S. 3620.

“CUNA supports S. 3620 that would establish a $75 billion Housing Assistance Fund which would provide those resources directly to state Housing Finance Agencies,” CUNA President/CEO Jim Nussle wrote in support of the bill. “This will help to prevent mortgage defaults, foreclosures, and displacements of those Americans experiencing financial hardship caused by the pandemic.”

CUNA notes this legislation is especially important as the coronavirus disease (COVID-19) pandemic will likely lead to more foreclosures and evictions in the months ahead.

“Even more disconcerting, more than 70% of renters are not covered by the CARES Act’s prohibition against evictions for failure to pay rent according to the Urban Institute’s calculations,” the letter reads.