Velázquez, Nadler, Cicilline Outline Congressional Intent of PRRADA Law in Letter to FOMB and Key Financial Agencies

Washington, D.C.—Representatives Nydia M. Velázquez (D-NY), Jerrold Nadler (D-NY), and David N. Cicilline (D-RI) have sent a letter to key parties charged with interpreting the recently passed Puerto Rico Recovery Accuracy in Disclosures Act of 2021 (PRRADA) to lay out the Congressional intent of the law.

"Passing the Puerto Rico Recovery Accuracy in Disclosures Act of 2021 into law was a huge victory for transparency and restoring confidence in the future of Puerto Rico," said the lawmakers. "As the bill moves into the implementation stage, we wanted to ensure the FOMB and other key players in the process have clarity into the measures within the law as intended by Congress."

The full letter is available here.