May 3, 2006

Honorable Richard C. Shelby
Chairman
Committee on Banking, Housing and Urban Affairs
United State Senate
Washington, DC 20510

Honorable Paul S. Sarbanes
Ranking Member
Committee on Banking, Housing and Urban Affairs
United State Senate
Washington, DC 20510

Dear Chairman Shelby and Ranking Member Sarbanes:

America’s Community Bankers appreciates your efforts, and those of Senator Crapo, in crafting the Financial Services Regulatory Relief Act of 2006. We strongly urge all members of the Banking Committee to vote for the bill at the mark up on Thursday, May 4. We also strongly support every effort to ensure timely passage by the Senate so that this important legislation might become law during the 109th Congress.

We are pleased that many of ACB’s ideas for relieving unnecessary regulatory burden on community banks have been incorporated in the bill. By approving this legislation, the Committee will take a concrete step toward relieving the financial services industry of counterproductive and outdated requirements that stifle innovation and increase the cost of credit to consumers and businesses.

We appreciate your consideration of our views.


Sincerely,

Robert R. Davis
Executive Vice President and
Managing Director, Government Relations

Cc: Members, Senate Banking Committee