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Sunday, April 25, 2010

Must Read, "By Organizing for America and USAA".

As an American affected by the financial crisis, and a consumer who seeks protections from the worst abuses of credit card companies and lenders, I have a simple request:

Please stop standing in opposition to Wall Street reform.

Legislation in the Senate is the product of bipartisan negotiations. It will create the strongest consumer protections in history, hold big banks accountable, and -- as even some of your Republican colleagues have noted -- make sure that taxpayers will never again be forced to bail out a firm because it is "too big to fail."

I've heard you talking about reform as something that would "guarantee future bailouts." I wanted to pass along this independent fact-check site's research, that disagrees:


I urge you to listen to those Senate Republicans who are willing to work across party lines -- and to stand with President Obama and American families on Main Street, instead of the big banks on Wall Street.

I have one request as a USAA member, I am very concerned about a provision in the Restoring American Financial Stability Act of 2010 (S. 3217) that could harm USAA, which provides financial services to more than 7 million military personnel and their families. The Volcker Rule provision could cause significant disruptions to USAA's business if passed.

Life in and after the military can be challenging and complicated, and USAA eases these challenges by offering affordable products and services tailored to the military community. However, the Volcker Rule in the Senate bill now being considered could dramatically change the way USAA operates and limit its ability to offer these products.

Please amend S. 3217 so that the Volcker Rule does not limit USAA's ability to serve the military community. I can assure you USAA is not like the other banks that brought down the economy or took TARP funds. I can count on USAA to look out for my interests, and as your constituent, I hope I can count on you.

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