U.S. House of Representatives
Washington, DC 20515


Dear Representative:

On behalf of the Financial Services Roundtable and America’s Community Bankers, we would like to express our opposition to any amendment to H.R. 5576, the Transportation, Treasury, Housing and Urban Development, the Judiciary, the District of Columbia, and Independent Agencies Appropriations Act for Fiscal Year 2007, that would serve to restrict the use of matricula consular ID cards in obtaining financial services. Use of the matricula consular by individuals wanting to obtain financial services brings people into the formal financial services system in our country, which enhances national security.

The Customer Identification Program regulations issued by the U.S. Department of Treasury allow financial institutions to accept matricula consular ID cards as part of valid customer identification procedures for those wanting to obtain certain financial services. These regulations implement Section 326 of the USA PATRIOT Act, which requires institutions to establish “reasonable procedures” for verifying the identity of customers seeking to open new accounts. They help support important USA Patriot Act goals, not only by allowing financial institutions to ensure the legitimacy of their customers, but by bringing people into the formal financial services system, which complies with anti-money laundering and anti-terrorist financing statutes.

During the Appropriations Committee consideration of FY07 Treasury-Transportation Appropriations, Rep. Culberson (R-TX) offered an amendment that would have prevented the use of the matricula consular ID card for obtaining financial services. This amendment, which was defeated, would have had the effect of supporting a less regulated and less transparent underground banking system.

It is important to note that these cards do not confer immigration “status” on the holder; the merely serve as a form of identification, and as such, are another line of defense in the continuing efforts to ensure that terrorist do not have access to our financial institutions.

We ask for your opposition to any amendment that would have a negative impact on the use of the matricula consular ID card for obtaining financial services.


FINANCIAL SERVICES ROUNDTABLE

AMERICA’S COMMUNITY BANKERS