Joint Trades Letter to the Senate

Dear Leader Reid and Leader McConnell,

The undersigned trade associations, representing job creators across the country of all shapes and sizes, write to urge the Senate to consider and pass H.R. 5461, a bipartisan package of corrections to the Dodd-Frank Wall Street Reform and Consumer Protection Act that strengthen the underlying Act and provide critical clarifications to better oversee our financial system while removing barriers to economic growth.

The ongoing implementation of the Dodd-Frank Act has revealed unintended consequences that have adversely impacted job creation and economic growth. H.R. 5461, which recently passed the House with strong bipartisan support, is comprised of a series of four thoroughly examined, bipartisan proposals that will fix some of these unintended consequences and help make financial reform more workable. Specifically, this legislation contains the text of three bills previously approved by the House (H.R. 634, the Business Risk Mitigation and Price Stabilization Act; H.R. 3211, the Mortgage Choice Act; and H.R. 4167, the Restoring Proven Financing for American Employers Act) as well as one bill that recently passed the Senate (S. 2270, the Insurance Capital Standards Clarification Act) by unanimous consent.

With limited time remaining in the Congress, we urge the Senate to consider this package of bills as expeditiously as possible in order to help foster job creation and economic growth.


American Bankers Association

American Bankers Insurance Association

American Financial Services Association

Consumer Bankers Association

Consumer Mortgage Coalition

The Financial Services Forum

The Financial Services Roundtable

Independent Community Bankers of America

Leading Builders of America

The Loan Syndications and Trading Association

Mortgage Bankers Association

National Association of Home Builders

National Association of Realtors

The Realty Alliance

Real Estate Services Providers Council, Inc. (RESPRO)

Securities Industry and Financial Markets Association

U.S. Chamber of Commerce


Cc: Chairman Johnson (D-SD) and Ranking Member Crapo (R-ID)