May 24, 2006


Honorable Michael G. Oxley
Chairman
Financial Services Committee
United States House of Representatives
Washington, DC 20515

Honorable Barney Frank
Ranking Member
Financial Services Committee
United States House of Representatives
Washington, DC 20515

Dear Chairman Oxley and Ranking Member Frank;

America’s Community Bankers is pleased to support H.R. 5341, the Seasoned Customer CTR Exemption Act of 2006. The legislation would make important improvements to the current exemption system for cash transaction reports (CTRs) by making it easier to exempt the routine transactions of certain seasoned business customers. H.R. 5341 would more appropriately balance the cost and benefits of the Bank Secrecy Act’s CTR reporting requirements. The legislation would also aid law enforcement by reducing the number of unhelpful CTRs filed each year.

We urge the Committee to adopt H.R. 5341 and look forward to working with you to enact this important legislation.

Sincerely,

Robert R. Davis
Executive Vice President and
Managing Director, Government Relations