On the recordMarch 5, 1999
I only have two observations about that. Yesterday, the Comptroller of the Currency in testimony on the House side stated that they intended to withdraw the proposals ``promptly.'' Now, perhaps the Senator feels that through his communications with the regulators heretofore and the letters he sent--and I have sent a letter, and others have sent letters--we weren't able to get sufficient credit for having brought about this change--so we need to come out here and try to get this amendment passed so that we really show that we are the ones who did it and not the regulators who were affected, acting in a reasonable manner after reviewing all of the comments that have been received not only from the public but from Members of the Congress, as well. Second, I do have some concern about your amendment because it addresses not only the proposed regulations, but, as I understand, it precludes them coming forward with any similar regulations that might be greatly narrowed so they get at the money laundering issue.
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