Thank You Letter to Reps Oxley, Frank, Boehner, Pelosi and Hastert Regarding Placing H.R. 3505 "Financial Services Regulatory Relief Act of 2005" on the Legislative Calendar
March 8, 2006
The Honorable Michael Oxley
U.S. House of Representatives
House Committee on Financial Services
2308 Rayburn House Office Building
Washington, DC 20515
Dear Chairman Oxley:
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 placing H.R. 3505 the "Financial Services Regulatory Relief Act of 2005," on the legislative calendar this week.
CUNA supports the measure as it was reported out of the Financial Services Committee and the Judiciary Committee and remains strongly committed to each of the provisions included in Title III.
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 The past eight years have provided an opportunity to identify unnecessary and outdated provisions and recommend common sense improvements.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.
Once again, thank you for taking the initiative to swiftly approve well needed regulatory relief legislation.
Daniel A. Mica
President & CEO