Thank You Letter from Dan Mica to the House of Representatives for Passing H.R. 3505 the "Financial Services Regulatory Relief Act of 2005
March 8, 2006
On behalf of the Credit Union National Association (CUNA) and the nation's 87 million credit union members, I would like to thank you for passing H.R. 3505 the "Financial Services Regulatory Relief Act of 2005," this week in the House.
As you know, the last major changes to the Federal Credit Union Act occurred in 1998. The past eight years have provided an opportunity to identify unnecessary and outdated provisions and recommend common sense improvements. H.R. 3505 focuses on improving productivity and efficiency in a competitive and dynamic marketplace.
We will continue to work with the Senate to secure support for quick action on a companion measure during the 109th Congress.
Once again, thank you for taking the initiative to swiftly approve well needed regulatory relief legislation.
Daniel A. Mica
President & CEO