|FOR IMMEDIATE RELEASE:||CONTACT: CHRISTI HARLAN|
|Thursday, July 1, 1999||202-224-0894|
Sen. Phil Gramm, chairman of the Senate Committee on Banking, Housing and Urban Affairs, issued the following statement after the House approved H.R. 10. The Senate approved the Financial Services Modernization Act on May 6.
"I want to congratulate Chairman Leach and Chairman Bliley on their accomplishment. I know from personal experience how hard it is to win support for such a wide-ranging bill.
"With the House vote, we now have it within our grasp to pass a good bill, and that's my objective.
"We face some very high hurdles, and negotiations will require a tremendous effort. But I am ready to take the time and do the hard work with this goal in mind: The bill must benefit consumers by making the broadest array of financial services available at the lowest possible price. If it doesn't do that, then it's not worth having."