Posted on 05/28/2010 2:23:58 PM PDT by Jet Jaguar
Dear (JJ):
A few weeks ago, I asked you to urge your U.S. senators to amend their financial services reform legislation to eliminate the impact of the Volcker Rule on insurance company investment portfolios. Thanks to the more than 750,000 e-mails and phone calls generated by USAA members, employees and friends, there is now widespread and bipartisan understanding that an amendment to the Volcker Rule would be good for consumers.
I am writing today to let you know that the Senate has approved its legislation and directed a committee crafting the final bill to specifically consider the concerns you raised. In the weeks to come, a conference committee with members from the Senate and the House of Representatives will meet to develop a final bill to send to the president. Senators on this committee have been officially instructed to consider changes to the Volcker Rule that would allow USAA to continue serving you in the same manner we have for 87 years. This special instruction to the committee is a tribute to your outreach.
We greatly appreciate the overwhelming show of support from members, employees and friends. Also, we are grateful to the senators from both parties who worked to amend the Volcker Rule provision, including Senators Jeff Merkley and Carl Levin. In particular, Senators Kay Hagan, a member of the Senate Armed Services Committee and USAA member, and Kay Bailey Hutchison helped spearhead the effort to ensure that this critical issue is considered in conference committee.
USAA will continue to educate members of Congress about the need for this change, and we will continue to provide updates in our Newsroom.
Keep Informed on USAA Public Policy Issues While it is extremely rare for us to ask for our members' help in contacting public officials, USAA and military families are affected by public policy decisions on a regular basis. We work hard to educate policymakers on how laws and regulations would impact the military community or how we serve them. If you'd like to stay informed about those activities and the current financial services reform bill, please register and complete a brief questionnaire at our trusted advocacy website.
Thank you again for your interest, your support and your loyalty to USAA.
Sincerely, Joe Robles Signature Josue (Joe) Robles Jr. Major General, USA (Ret.) President and CEO
USAA Ping.
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