FROM THE OFFICE OF PUBLIC AFFAIRS

The House of Representatives has made significant progress in its consideration of legislation to modernize the laws governing our financial services system. While this session of Congress is approaching an end, we hope that the momentum behind this important effort will be maintained. Financial modernization holds out the promise of significant benefits for American consumers of financial services, and Congress has an historic opportunity to enact legislation that will allow our institutions to meet the challenges of the Twenty-first Century.

The leaders of the House Committee on Commerce and the Committee on Banking and Financial Services deserve great credit for the effort they have devoted to crafting forward-looking legislation that will command broad support. We strongly support that effort and we urge that it continue to move ahead without delay.