Memo to PA Congressional Delegation

I am writing in follow up to our numerous communications on the Industrial Loan Corporation (ILC) issue and our support for H.R. 698 to urge you to support this legislation when it comes before the House for an expected vote next week.

Maintaining the separation of banking and commerce is a major priority for PACB and community banking and this legislation would close the loophole in the law that would allow Wal-Mart, Home Depot and other huge conglomerates to breach an economic principle that has been part of the foundation of our economy since the 1930’s.

We are grateful to the following 10 members of our delegation who have added their names as co-sponsors of H.R. 698 this session: Altmire, Carney, Doyle, Gerlach, Holden, Murtha, Patrick Murphy, Platts, Sestak, and Schwartz.

If you need any information from PACB on this issue, please do not hesitate to contact Dave Transue. Again, please support H.R. 698.

Thanks so much for your consideration.

Cc: PACB Board of Directors
      ICBA
      ACB