Community Banker Alert
To: All Pennsylvania Community Banks
From: Frank A. Pinto, President/CEO
Subject: Contact Casey & Specter Now - Stop the ILCs
Date: July 24, 2007
Once again, we are asking you to contact our two U.S. Senators in support of S. 1356, legislation that would close the Industrial Loan Corporation (ILC) loophole and maintain the separation of banking and commerce. As you know, we were successful in having legislation overwhelmingly pass the House of Representatives and our focus must now be on convincing the U.S. Senate to take action before the FDIC moratorium expires on January 31, 2008. The FDIC has made it clear that the moratorium will not be extended and they will begin making judgments on the applications before them for deposit insurance by ILCs.
In the interests of time, we are asking you, your employees, officers, and directors, to call the two U.S. Senator’s offices with a simple message: Please co-sponsor and support S. 1356. Our goal is to flood these offices with contacts so that Senators Casey & Specter know this is a critical issue to community banking.
Casey’s Contact Information: Casey’s D.C. Phone # -- (202)224-6324
Specter’s Contact Information: Specter’s D.C. Phone # -- (202)224-4254
If you need any assistance with these contacts, please call Dave Transue.
Thank you for your attention to these issues.