Nov 05 2003

SHELBY COMMENTS ON PASSAGE OF S. 1753, THE “NATIONAL CONSUMER CREDIT SYSTEM IMPROVEMENT ACT OF 2003"

Senate Passes Bill 95 - 2

U. S. Sen. Richard C. Shelby (R-Ala.) today commented on the Senate’s passage of S. 1753, the “National Consumer Credit System Improvement Act of 2003.” The bill was the product of extensive hearings and deliberations by the Senate Banking Committee.

 

Sen. Shelby said, “I commend my colleagues in the Senate for recognizing the strength and importance of this legislation. The bill passed today by the Senate was truly the product of bipartisanship and cooperation. I would especially like to thank Sen. Sarbanes, Ranking Member of the Banking Committee, for his insight and significant contributions to this bill.”

 

“The Committee’s process helped us to identify key areas that required reform or improvement, while at the same time, reinforcing the importance of our national credit system to the operation of our financial markets and economy as a whole. The end product strikes a careful balance between ensuring the efficient operation of our markets and protecting the rights of consumers. The Committee spent a significant amount of time and energy crafting a bill that would enjoy broad support when considered by the full Senate. The vote today reflects our efforts, and I look forward to taking the necessary steps to ensure it is enacted into law this year.”