FOR IMMEDIATE RELEASE
February 15, 2022
Media Contact: NFHA@skdknick.com
The National Fair Housing Alliance Issues Statement on the Failure of Senate Banking Committee Republicans to Vote on Diverse Slate of Historic Nominees to the Federal Regulatory Banking Agencies
Washington, DC — Today, the 12 Republican members of the Senate Banking Committee failed to show up for a scheduled vote to advance a slate of highly qualified nominees for the Federal Reserve Board of Governors (Federal Reserve) and Federal Housing Finance Agency (FHFA). The inaction by Republicans on the Committee is unacceptable and plays politics at a time when the American people are concerned about achieving full employment, stopping inflation from getting out of hand, and expanding access to mortgage credit. American families are struggling with the increased costs of housing, groceries, gas, and other life necessities. They are being outbid by investors when seeking to purchase a home. They want leaders in place at the Federal Reserve and FHFA that understand their needs and will work to strengthen the economy for everyone.
Lisa Rice, President and CEO of the National Fair Housing Alliance (NFHA), offered the following statement following the Committee’s adjournment this afternoon:
“The National Fair Housing Alliance is calling for all members of the Senate Banking Committee to immediately vote on President Biden’s historic nominees to the Federal Reserve Board and FHFA. The slate of nominees is one of the most qualified in the history of the Federal Reserve and FHFA. They have the skills needed to ensure inflation is kept in check, the nation reaches maximum employment, and there is an inclusive recovery from the COVID-19 pandemic. The Senate must confirm the five nominees — Drs. Cook and Jefferson and Governors Bloom Raskin, Brainard, and Powell — to the Federal Reserve and FHFA Acting Director Sandra Thompson without delay. Now is not the time to play politics with the fiscal health of our country.”
Earlier this month, the National Fair Housing Alliance (NFHA) and nearly 100 prominent civil and human rights, housing, consumer, labor, financial, and faith organizations and individuals across the political spectrum wrote a letter supporting Dr. Lisa D. Cook, a highly respected macroeconomist, whose historic nomination would make her the first Black woman to serve on the Federal Reserve Board. NFHA joined civil rights and consumer protection groups in writing letters of support for the other Federal Reserve Board nominees as well as Acting Director Sandra Thompson, who would be the first Black woman to lead FHFA.
The National Fair Housing Alliance (NFHA) is the country’s only national civil rights organization dedicated solely to eliminating all forms of housing and lending discrimination and ensuring equal opportunities for all people. As the trade association for over 170 fair housing and justice-centered organizations throughout the U.S. and its territories, NFHA works to dismantle longstanding barriers to equity and build diverse, inclusive, well-resourced communities.