Letter to Representative Michael Oxley Chairman of the House Financial Services Committee regarding regulatory relief.

Letters to Congress

Letter to Representative Michael Oxley, Chairman of the House Financial Services Committee regarding regulatory relief.

January 10, 2002

The Honorable Michael Oxley
Chairman, House Financial Services Committee
U.S. House of Representatives
Washington, D.C. 20515

Dear Chairman Oxley:

Thank you for agreeing to address the Credit Union National Association's (CUNA) 2002 Governmental Affairs Conference on Wednesday, February 27. Our members will be keenly interested in your view on the issues that the House Financial Services Committee will handle during the upcoming session of Congress. Your appearance assures that the Conference will be a success.

CUNA and credit unions applaud your efforts to provide financial institutions with relief from unnecessary or unworkable regulations. We are pleased to be working with you and your staff to achieve this important goal, as credit unions are currently the most heavily regulated financial institutions in America. This is especially true after the implementation of the Credit Union Membership Access Act, which imposed new, severe restrictions on credit unions in several areas. Although not mentioned as a top priority for the members of the Financial Services Coordinating Council in their recent press conference, I can assure you that CUNA is willing to work with all other financial institutions and their representative organizations and will make passage of regulatory relief legislation one of its top priorities for this year.

I also want to thank you for your role as a conferee on the bankruptcy abuse reform bill and assure you of our continued support for passage of this extremely important legislation. CUNA, including the Ohio Credit Union League and its members, have been among the strongest proponents of this legislation for the many years it has been under consideration. We strongly urge you to use your influence in passing what we believe to be one of the most important pieces of legislation before Congress in 2002.

Again, thank you for the opportunity to work with you and your staff on these issues, and we look forward to discussing additional issues of importance to the credit union movement during this Congress and beyond.

Daniel A. Mica
President & CEO

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