(Baltimore, MD) Statement from former Baltimore City Councilman Carl Stokes regarding the federal CARES Relief Act:
“As part of the federal CARES Coronavirus Relief Act there are many provisions giving financial relief and support to citizens, banking institutions and other industries hard hit by the pandemic.
Recently, Bank of America broke faith with the American people by announcing they would only offer financial assistance to their current customers, a clear violation of the spirit and direct language of the law. This has resulted in many people being unable to get assistance from BOA and has been condemned by federal, state and local lawmakers and advocates. BOA has heard the American people and announced they were reversing their policy.
In addition to condemning the actions of BOA, I am calling on all financial and lending organizations, many with large corporate offices in Baltimore to put the interests of the American people before their corporate interests as outlined in the relief legislation. I am especially concerned about the thousands of small and minority owned businesses disproportionately impacted by the Coronavirus. These businesses have been discriminated against historically by these financial giants and many are on the brink of collapse due to the loss of customers and business.
I support the financial relief being offered by the federal and state governments and ask that everyone be considered for assistance and be treated fairly.
We are going to get through this health crisis and need to continue to support each other and call out gouging and corporate greed.”
Candidate for City Council President
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