Washington, D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement after the U.S. Congress passed bipartisan legislation, the Coronavirus Aid, Relief, and Economic Security (CARES) Act:
“The Financial Services Forum commends the Administration and Congress for taking this important step to provide crucial support for people and businesses severely impacted by COVID-19, including providers of health care and other essential services, small businesses and workers who have lost their jobs. The nation’s largest banks will continue to support employees, customers, small businesses, communities and the broader economy, in concert with this unprecedented assistance.”
Forum member firms are in close contact with policymakers to offer assistance so that the nation’s financial circulatory system can get help where it’s needed as fast as possible. Firms have announced various initiatives to support employees, customers, communities and the broader economy throughout this difficult time. Forum members continue to believe this recovery requires a strong financial system, with healthy financial institutions big and small. This fight is a team effort and we commend lawmakers for their efforts to support our peers – community banks, credit unions, etc. – as part of coronavirus response legislation.