Sen. Bill Nelson urged leaders of a dozen financial companies to provide a moratorium on late fees and other penalties for Floridians affected by Hurricane Irma.
Following is the text of the letter sent yesterday to the companies:
September 14, 2017
Mr. Kenneth Chenault
Chairman and CEO
American Express Company
American Express Tower, 200 Vesey Street
New York, NY 10285
Dear Mr. Chenault
As you know, Florida is beginning to come back from the depths of Hurricane Irma, a monster storm that swallowed much of the state, flooding neighborhoods and knocking out power for millions of people.
As we begin the recovery process, it’s important that consumers not be saddled with late fees and other unnecessary costs—particularly those without the means to deal with such costs. Therefore, I ask that you provide a 60-day moratorium on late fees, interest accrual, penalties, and any other unnecessary costs, to give people time to recover and get back on their feet.
I’ve been heartened by the many stories of Floridians helping Floridians as I crisscross the state and survey the damage. I ask that you follow their example and do all you can to ease the burden on those suffering from the storm. Now is the time to lend a helping hand to your fellow Americans—to help them meet their immediate needs without the added stress of excessive financial demands.
I look forward to hearing your response to this request and stand ready to work with you to serve the people of Florida. Thank you for your prompt attention to this matter.