Insider NJ

New Jersey Citizen Action Urges NO Vote On Bill Gutted Of Consumer Protections

Insider NJ — June 12, 2020

Trenton — New Jersey Citizen Action (NJCA) today urged the New Jersey State Senate to vote "No" on A3908/S2330, the "COVID-19 Financial Security for Consumers Act" which has advanced out of committee in both State Legislative chambers, and is up for a Senate floor vote on Monday. Amendments added to the original bill support corporate interests and the debt collection industry, rather than providing comprehensive consumer finance protections for New Jersey residents who have experienced loss of wages and jobs because of the COVID-19 pandemic:

"S2330 ignores the grim facts facing many New Jersey families and small business owners and falls far short of being a "Financial Security Act," said Beverly Brown Ruggia, NJCA Financial Justice Organizer. "More than a million people have applied for unemployment in New Jersey so far, and thousands more have lost income in other ways. Small businesses are in danger of never reopening and New Jerseyans are not able to cover their basic living expenses. Many will have new medical bills. Many cannot pay down debt or manage the complicated administrative activities required to respond to debt collectors and to monitor credit reporting. The bill should be scrapped and redrafted to provide New Jerseyans with meaningful financial security and a compassionate pathway out of the economic crisis, as it was intended."

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