Velázquez Backs NY Legislation to Stop Vulture Funds from Preying on Puerto Rico and Other Struggling Economies
Support New York legislation to stop vulture funds from preying on Puerto Rico and other struggling economies.
Occurrences
Evidence
legacy_unverified · Source version not recorded · locator unknown
Rep. Velázquez's office said she "voiced her support" for New York State legislation to close a loophole used by predatory hedge funds and stated that passing the Champerty Fix Bill would show New York stands against predatory actors exploiting financial distress.
legacy_unverified · Source version not recorded · locator unknown
New York Assembly records list S01477A as same as A00643-B, show it passed the Senate on 2026-06-02, was delivered to the Assembly, and was referred to Judiciary; the page also states there are no Assembly floor votes for this bill in this legislative session.
Assessments
The promise was to support New York legislation targeting vulture funds, not necessarily to secure final enactment of that state bill. Rep. Velazquez publicly backed the New York Champerty Fix legislation while serving in federal office, directly matching the promised action. The bill’s lack of full state enactment affects the broader policy outcome, but not fulfillment of this support-specific commitment.