WASHINGTON, DC (March 2, 2022) – American Fintech Council (AFC) CEO Garry Reeder releases the following statement on President Joe Biden’s State of the Union address to a joint session of Congress:

• Last night, the President made one thing crystal clear– "we are moving forward safely, back to more normal routines."  As a result of his decisive leadership, the American economy produced 6.5 million jobs and grew by 5.7% in 2021. This growth has been focused on expanding the middle class and supporting the most vulnerable. AFC was most encouraged by the Administration's announcement of an expansion of the Pell Grant program and additional investment in HBCUs and community colleges.  
• To build on this progress, and lift everyone up, the Administration should immediately invest in targeted measures to benefit those still feeling the financial strain of the COVID-19 pandemic. That means more resources to support Americans who want to purchase their first home, expand honest and transparent access to credit, develop emergency savings programs, promote policies that help people save for retirement, curtail predatory lending practices, and finally end the student loan payment moratorium for high income earners.  
• AFC looks forward to working with the Administration and Members of Congress to advance policies that promote responsible innovation and support the President’s priority of closing the racial wealth gap.