NRF Urges Congress to Address Financial Crisis

The National Retail Federation Thursday called on Congress to set aside partisan differences and act immediately on legislation to address the nation’s financial crisis.

“This week Congress is engaged in negotiations to address the most profound domestic crisis in decades, one that is threatening the very foundations of our economy,” Tracy Mullin, NRF president and chief executive officer, wrote in a letter to all members of the House and Senate. “On behalf of the National Retail Federation and the entire retail industry, I urge you to put politics aside and support legislative efforts to provide stability and integrity to our financial system.

“Passage of this critical initiative is extremely time sensitive,” Mullin added. “If Congress does not act quickly, the liquidity of more financial institutions could be imperiled and the linchpin of our economic engine – credit and lending – will drastically decline or cease altogether.

“This crisis is not just about Wall Street versus Main Street,” Mullin continued. “It is about the two-way street that is our nation’s financial system, and it directly affects every American and every facet of our nation’s economy. Congress must act expeditiously and without partisanship. The nation and the world are watching.”