September 07, 2005

Crapo, Carper Urge Banks, Credit Unions, Credit Card Companies To Show Lenience To Katrina Victims

WASHINGTON (Sept. 7, 2005) â?? Senators Mike Crapo (R-Idaho) and Tom Carper (D-Delaware) today urged members of the financial community to show leniency toward victims of Hurricane Katrina. In a letter to Financial Services Roundtable as well as various banking, credit union and credit card trade associations, Carper and Crapo implored financial institutions to do what they can to help Katrinaâ??s victims, many of whom no longer have homes or a source of income. Both Carper and Crapo are members of the Senate Banking Committee. â??There are many ways as members of our financial services community can help, such as waiving certain payments or refraining from reporting delinquencies to the credit bureaus for those residents of the declared disaster area. We ask you to consider all appropriate actions and implore you to help our fellow citizens in this way that only you can,â?? the letter states. Carper and Crapo also thanked those companies who had already taken steps to provide relief to hurricane victims. The full text of the letter follows. # # # September 7, 2005 Ed Yingling Diane Casey-LandryPresident & CEO President & CEOAmerican Bankers Association America's Community Bankers1120 Connecticut Ave, NW 900 Nineteenth Street, NW, Suite 400,Washington, D.C. 20036 Washington, D.C. 20006Steve Bartlett Camden R. FinePresident & CEO President & CEOFinancial Services Roundtable Independent Community Bankers of America1001 Penn. Ave. N.W. Suite 500S One Thomas Circle NW Suite 404Washington, DC 20004 Washington, D.C. 20004Daniel A. MicaPresident & CEO Credit Union National Association601 Penn. Ave. NW South Bldg.Washington, D.C. 20004 Dear Trade Association CEOs: Last week our nation was hit with the worst natural disaster in our history. Hurricane Katrina and the floods caused by the destruction of the levees devastated Louisiana, Alabama and Mississippi. Thousands lost their lives, hundreds of thousands lost their homes and livelihood, and millions had their lives changed forever. These tragic times in our country often bring out the best in our fellow citizens. Watching the horrific pictures on television can make us feel helpless. We want to do something to alleviate the suffering and to make their lives a better. Different people can help in different ways. People are rushing to do what they can by donating money, food, water and their time to help. These things are a matter of life and death in the immediate. But the suffering of these residents will continue even after they have water, food and clean clothes. In the days and weeks to come, their lives will not return to normal. They do not have homes to go back to, they do not have jobs to return to. They will need our continued help. There are many ways as members of our financial services community can help, such as waiving certain payments or refraining from reporting delinquencies to the credit bureaus for those residents of the declared disaster area. We ask you to consider all appropriate actions and implore you to help our fellow citizens in this way that only you can. We appreciate and commend those companies that are already providing relief and encourage others to follow their exemplary actions. Sincerely, _______________ ________________Thomas R. Carper Mike CrapoU.S. Senator U.S. Senator