The Lacuna Project

lacuna (n.) a gap in a record where something should be

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Exhibit 796

Letter from Senators Cramer, Cruz and 15 Republican colleagues to Secretary Mnuchin and Chairman Powell on CARES Act implementation

Exhibit 796 ยท Congressional letter

Letter from Senators Cramer, Cruz and 15 Republican colleagues to Secretary Mnuchin and Chairman Powell on CARES Act implementation

BlackRock must act without regard to this or other investment policies BlackRock has adopted for its own funds.

Quotes the New York Fed's 27 March 2020 initial terms: BlackRock will act as a fiduciary to the facility, abide by conflict of interest policies and keep SMCCF staff segregated from other BlackRock engagements. The senators ask the Fed to say that BlackRock must disregard investment policies it adopted for its own funds (BlackRock had announced screens on certain companies). The worry is that those screens would disadvantage energy and transportation employers.

Source
U.S. Senate (Cramer, Cruz and 15 colleagues)
Date
7 April 2020
Quoted from
p. 2
Grade
Primary record
Document
https://www.cruz.senate.gov/files/documents/Letters/2020.04.07%20-%20Letter%20to%20Powell%20Mnuchin%20re%20CARES%20Act%20Implementation%20.pdf
Accessed
2026-11-09
Cited by
Findings citing this exhibit

Cited by

Finding POL-8.12
Primary record On 7 April 2020 Senators Cramer and Cruz and 15 Republican colleagues asked that BlackRock act without regard to investment policies it adopted for its own funds. On 22 April 2020 Representatives Garcia, Tlaib, Pressley and six Democratic co-signers asked for the contracts, BlackRock's conflict policies and documents on how the programs affect BlackRock's own ETFs.