[Congressional Record Volume 151, Number 93 (Tuesday, July 12, 2005)]
[Extensions of Remarks]
[Page E1461]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          MILITARY PERSONNEL FINANCIAL SERVICES PROTECTION ACT

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                               speech of

                             HON. JIM RYUN

                               of kasnas

                    in the house of representatives

                         Monday, June 27, 2005

  Mr. RYUN of Kansas. Mr. Speaker, I rise today in favor of H.R. 458, 
the Military Personnel Financial Services Protection Act. This 
legislation, sponsored by the gentleman from Kentucky, would establish 
procedures to protect our servicemembers from predatory practices 
sometimes employed by members of the financial services industry.
  I want to specifically express support for Section 110 of the bill, 
which establishes a method for our military base commanders to obtain 
the information that they need to keep these problematic agents off 
their installations without neglecting their servicemembers of access 
to legitimate financial service providers.
  Specifically, Section 110 creates a registry at the Department of 
Defense to list any agent that has been barred from entry onto any 
military installation. This registry will be made available to base 
commanders everywhere, empowering them to deny access to an agent known 
to employ predatory practices elsewhere.
  I want to thank Mr. Davis and Chairman Oxley for including the 
language I authored in Section 110. This language, coupled with the 
other provisions in the bill, will go a long way towards protecting our 
servicemembers from those who would prey on them financially. I 
encourage my colleagues to support this effort.

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