LETTER TO CONGRESSWOMAN MARGE ROUKEMA

Dated: July 31, 1998

The Honorable Marge Roukema
Chairperson
Financial Institutions and Consumer Credit Subcommittee
House Banking Committee
2129 Rayburn House Office Building
Washington, DC 20515

Dear Congresswoman Roukema:

In your subcommittee's review of banking regulatory relief legislation, we request your consideration of provisions that would alleviate the unreasonable burdens and risks on bank and savings institution directors created by FIRREA and its progeny.

We understand that Congressman McCollum testified at your hearing earlier this month and urged the subcommittee to include a provision containing the wording of H.R.220, which he introduced last year. We enthusiastically support Congressman McCollum's legislation which will provide bank directors badly needed affirmative defenses against arbitrary banking agency actions.

Other provisions that would help protect bank directors from arbitrary agency action are described in the enclosed 1998 Legislative Proposal Summary of the American Association of Bank Directors ("AABD"). We request your consideration of our legislative agenda as you draft legislation to reduce unnecessary regulatory burdens on banks and their directors.

Sincerely,

David H. Baris
General Counsel

DHB:had