Latest Releases
U.S. Senator Tina Smith Presses Multi-Billion Dollar Corporation on Predatory Practices That Are Pricing Out Lake Elmo, Minnesota Residents
MINNEAPOLIS, MN – Today, U.S. Senator Tina Smith (D-MN), Chair of the Senate Housing Subcommittee, sent a letter to the Chief Executive Officer of Equity LifeStyle Properties (ELP), an Illinois-based corporation, expressing deep concern over the company’s mistreatment of residents in Lake Elmo, Minnesota. Her letter comes following extensive reporting that residents of Cimarron Park, which is owned by ELP, are being priced out by egregious rent increases, dealing with hostile management and suffering under unfair rules that make selling or moving into a new home more difficult. “This corporation’s well-documented practices of hiking rents and making it more difficult to find other housing options only serves to boost shareholder profits while hanging Minnesotans out to dry,” said Senator Smith. “Residents have been pleading for help for nearly four years, and Equity LifeStyle Properties has failed to show they are even listening to concerns. I want them to meaningfully engage with residents instead of putting their shareholders ahead of hardworking Minnesotans.” Cimarron Park is home to roughly 500 Minnesota families. Their conflict with ELP was first reported by WCCO News in December 2020, when residents decried a rent increase at the beginning of the COVID-19 pandemic. Since that initial report, residents said the situation had only worsened, with the Minnesota Star Tribune reporting declining services and poor management earlier this year. Most recently, residents reported unfair rules that make selling or moving into a new home unnecessarily expensive, trapping households into a cycle of ever-increasing rent, now totaling a 30% increase over the last five years. Equity LifeStyle Properties owns roughly 72,0000 homes and operates
U.S. Senator Tina Smith Presses Multi-Billion Dollar Corporation on Predatory Practices That Are Pricing Out Lake Elmo, Minnesota Residents
MINNEAPOLIS, MN – Today, U.S. Senator Tina Smith (D-MN), Chair of the Senate Housing Subcommittee, sent a letter to the Chief Executive Officer of Equity LifeStyle Properties (ELP), an Illinois-based corporation, expressing deep concern over the company’s mistreatment of residents in Lake Elmo, Minnesota. Her letter comes following extensive reporting that residents of Cimarron Park, which is owned by ELP, are being priced out by egregious rent increases, dealing with hostile management and suffering under unfair rules that make selling or moving into a new home more difficult. “This corporation’s well-documented practices of hiking rents and making it more difficult to find other housing options only serves to boost shareholder profits while hanging Minnesotans out to dry,” said Senator Smith. “Residents have been pleading for help for nearly four years, and Equity LifeStyle Properties has failed to show they are even listening to concerns. I want them to meaningfully engage with residents instead of putting their shareholders ahead of hardworking Minnesotans.” Cimarron Park is home to roughly 500 Minnesota families. Their conflict with ELP was first reported by WCCO News in December 2020, when residents decried a rent increase at the beginning of the COVID-19 pandemic. Since that initial report, residents said the situation had only worsened, with the Minnesota Star Tribune reporting declining services and poor management earlier this year. Most recently, residents reported unfair rules that make selling or moving into a new home unnecessarily expensive, trapping households into a cycle of ever-increasing rent, now totaling a 30% increase over the last five years. Equity LifeStyle Properties owns roughly 72,0000 homes and operates
Senators Smith, Warren Ask Key Regulators About Banking System’s Exposure to Crypto Risks after FTX Crash
Washington, D.C. – U.S. Senators Tina Smith (D-Minn.) and Elizabeth Warren (D-Mass.), members of the Senate Banking, Housing, and Urban Affairs Committee, sent letters to three key banking regulators raising concerns about the ties between the banking industry and crypto firms following FTX’s bankruptcy. The senators are asking each regulator, the Federal Reserve (Fed), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), how they assess the banking system’s exposure to crypto risks. “(I)t appears that crypto firms may have closer ties to the banking system than previously understood,” wrote the senators. “Banks’
Senator Smith’s Bipartisan Legislation to Provide Transparency for Those Looking to Purchase Popular Long-Term Savings Vehicles Passes Senate
WASHINGTON, D.C. – Today, U.S. Senator Tina Smith (D-MN) announced her bipartisan legislation with Senator Thom Tillis (R-NC) to help provide transparency for consumers looking to purchase popular, long-term savings vehicles has passed the Senate. The bill would help ensure that investors considering purchasing Registered Index Linked Annuities (RILAs) get clear and direct information that promotes investor understanding. “It’s more important than ever for consumers to have clear and concise information about their investments,” said Smith. “This legislation would help consumers looking to purchase RILAs by providing clear information about their potential investments in terms that they are able to
Klobuchar, Smith Statements on Confirmation of Jerry Blackwell to be U.S. District Court Judge
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) issued the following statements after the Senate confirmed Jerry Blackwell to serve as a United States District Court Judge for the District of Minnesota. Blackwell has more than three decades of legal experience and was highly recommended by the judicial selection committee Senators Klobuchar and Smith convened to assist them in providing a recommendation to President Biden. “Jerry Blackwell is one of the most widely respected and accomplished members of the Minnesota legal community. With nearly 35 years of trial practice– including the successful prosecution of the murder of
Senator Smith, Colleagues Introduce Bipartisan Bill Giving Tribal Colleges and Universities a Stronger Voice in Education Policy
WASHINGTON, D.C. – U.S. Senator Tina Smith (D-Minn.), along with U.S. Senators Deb Fischer (R-Neb.), Jon Tester (D-Mon.), Mike Rounds (R-S.D.), and Jerry Moran (R-Kan.), introduced bipartisan legislation – the National Advisory Council on Indian Education Improvement Act – aimed at giving Tribal Colleges and Universities (TCUs) greater input over federal funding and policymaking that impacts them. “Minnesota’s Tribal Colleges are important institutions that serve Native and non-Native students alike in some of the most impoverished and geographically isolated regions of the country,” said Smith. “These institutions deserve a seat at the table when federal agencies make decisions that impact
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