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47[infoguys-list] Banking Legislation Update from Jack Reed

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  • YOUR LOUISIANA CONNECTION
    Sep 12, 1998
    • 0 Attachment
      Differences in amendment proposals, IRSG vs.NCISS from Jack Reed
      Sat, 12 Sep 1998 16:31:21 EDT

      In response to a question from Robert Parke (NALI ASST ND) about
      differences in proposed amendments of Jack Reed & NCISS, Reed posted:

      I have stated my reasons three or four times.
      Briefly; Jim Leach Chairman of the banking committee told NCISS that he
      would not approve an exemption for PI's.
      He wanted to know if Eddie was a member of IRSG, Eddie said "NO".
      The questioning ended.
      Eddie said in one of his memos that the Banking Committee staff had not
      responded favorable to the NCISS proposed amendments.
      I read the NCISS amendments as exemptions with no guidelines.
      The last amendments to the bill included booth the FTC and the Federal
      Reserve as the enforcers.
      Can you believe they will accept any amendment without having the
      ability to regulate.
      Also I am sure that Leach wants to see some form of self regulation,
      NCISS did not include either, I did.
      That's it.
      Jack H Reed
      Chairman IRSC, Inc.
      Jreed@...
      1-800-640-4772 x332
      1-941-495-8849

      Senate action update from Jack Reed
      Date: Fri, 11 Sep 1998 21:14:39 -0700

      I want all of you to know what is going on. It was learned today that
      HR4321 in now in the Judiciary Committee until the 25th. It is not
      expected that much will happen there, however, you never know. Steve's
      message below shows what can happen if we are not alert. Your support is

      important. Have a good one.
      Jack H Reed
      Chairman IRSC, Inc.
      Jreed@...
      1-800-640-4772 x332
      1-941-495-8849


      -----Original Message-----
      From: Jack Reed
      Sent: Friday, September 11, 1998 11:55 PM
      To: 'Steve Metalitz'
      Subject: RE: Senate action update

      Thanks I will post this for all. I just received an official memo of
      support from the California Association of Licensed Investigators
      approving our amendments.
      Jack H Reed
      Chairman IRSC, Inc.
      Jreed@...
      1-800-640-4772 x332
      1-941-495-8849


      -----Original Message-----
      From: Steve Metalitz [SMTP:metalitz@...]
      Sent: Friday, September 11, 1998 4:31 PM
      To: Jack Reed
      Subject: Senate action update

      Jack --

      The Senate Banking Committee this morning approved HR 10, a huge

      financial modernization bill, to which the text of S 2433
      (D'Amato's
      companion bill to HR 4321) was attached as an amendment. No
      changes
      were made to S 2433 as introduced (which conforms to HR 4321 as
      reported
      by the House Banking Committee, i.e., with the law enforcement
      exception
      and the other changes).

      I spoke today with the Senate Banking staffer whom Pat McCarty
      suggested
      I call -- Dean Shahanian. He said that HR 10 was moving but not

      at
      lightning speed and there was time to talk about either report
      language
      or even amendments to appear in the Manager's Amendment when the

      bill
      goes to the floor in the next couple of weeks. I sent him our
      material
      (cc to you via fax) and will follow up with him next week. I
      will also
      pursue the contact on the majority Senate staff (Shahinian is
      minority)
      whom McCarty had given to me.

      What I don't know at this point is whether HR 10 is still
      controversial
      and therefore is unlikely to be able to move through the Senate
      at this
      late date in the session, or whether all the controversial
      issues have
      been worked out and the bill is likely to move quickly once it
      gets to
      the floor. I would bet on the former, not the latter, but I
      will try to
      find out more next week.

      Have a good weekend.

      Steve Metalitz

      From Robert Scott:

      If you are sending a letter to your Senator or Congressperson on HR4321
      and don't know who they are, there's a website to go that makes it easy:

      http://www.visi.com/juan/congress/
      After you click on California, scan down the list until you see the
      representative who's home office is in your area code.
      Robert Scott
      Inter-Agency Investigations (Los Angeles)
      PI# 18403

      --
      "YOUR LOUISIANA CONNECTION"
      BOMBET CASHIO & ASSOCIATES

      12077 Old Hammond Highway
      Baton Rouge, Louisiana 70816
      Phone 225-275-0796 Fax 225-272-3631
      http://www.Bombet.com

      JULIUS "BUDDY" BOMBET, CLI, CFE, LCI
      NALI GIN ACFE NCISS CII WAD WIN NAIS IIN
      COIN NAPPS MPIA LPIA CALI TALI PIAU SCALI



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