USAA CEO: President Signs Bill with Amended Volcker Rule

Email ^ | July 21, 2010 | Josue (Joe) Robles Jr.

[Jet Jaguar]

President Obama has signed a sweeping financial services reform bill approved by Congress. Thanks to the support of USAA members, employees and friends, the new law provides consumer protections while preserving the way USAA serves its members.

USAA believes the amended Volcker Rule provision – the most critical aspect of the law for USAA – will better serve consumers and our members. You can learn more about the Volcker Rule in USAA's Newsroom. We're gratified that congressional leaders clearly heard your voices in crafting this legislation. Sen. Jeff Merkley, D-Ore., Sen. Carl Levin, D-Mich., and, in particular, Sen. Kay Hagan, D-N.C., Sen. Kay Bailey Hutchison, R-Texas, and Sen. John Cornyn, R-Texas, provided ongoing support.

Please know that USAA deeply appreciates our members, employees and friends who contacted their senators with more than 800,000 e-mails and phone calls, speaking up for prudent financial services reform. Please also know that public policy decisions affect USAA and military families on a regular basis. We work hard to educate policymakers on how laws and regulations would impact the military community and how we serve the men and women who serve our country. If you'd like to stay informed about those activities, register and complete a brief questionnaire at our trusted website.

Thank you for your loyalty to USAA and the military community we serve.

Sincerely, Joe Robles Signature Josue (Joe) Robles Jr. Major General, USA (Ret.) President and CEO

[Jet Jaguar]

USAA ping.

[Kathy in Alaska]

Thanks for the ping, JJ. Good news for a change.

[Pentagon Leatherneck]

This was a first for me, in nearly a half-century of membership in USAA. While I’m pleased with the outcome, I hope that USAA isn’t intending to get into political activism beyond matters of direct interest to the insurance needs of its members.

TC