Office of the Chairman

Statement of NCUA Chairman JoAnn Johnson

Alexandria, VA, March 16, 2005 – National Credit Union Administration (NCUA) Chairman JoAnn Johnson issued the following statement today regarding H.R. 749, The Expanded Access to Financial Services Act of 2005.

“The Expanded Access to Financial Services Act of 2005 will enable more credit unions to reach out and serve their communities with affordable financial services. The nation’s credit unions have been successful in providing low-cost check cashing and remittance services. With this bill moving toward enactment, economic empowerment will broaden across neighborhoods and communities where access is often limited to high-cost, predatory payday check-cashing outlets. By being able to access these services, more Americans will recognize the value of credit union membership. We appreciate Representatives Jim Gerlach (R-PA) and Brad Sherman (D-CA) for their leadership on this important bill to ensure expanded access to affordable financial services for Americans from all walks of life.”

-NCUA Chairman JoAnn Johnson

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