[Congressional Record (Bound Edition), Volume 150 (2004), Part 14]
[House]
[Page 18834]
[From the U.S. Government Publishing Office, www.gpo.gov]




                 UNSCRUPULOUS TACTICS ON MILITARY BASES

  (Ms. GINNY BROWN-WAITE of Florida asked and was given permission to 
address the House for 1 minute and to revise and extend her remarks.)
  Ms. GINNY BROWN-WAITE of Florida. Mr. Speaker, I rise to commend the 
gentleman from Ohio (Mr. Oxley) of the Committee on Financial Services 
for his leadership in addressing the unscrupulous tactics of life 
insurance salesmen at our military bases.
  During a recent Committee on Financial Services hearing, we learned 
that greedy insurance companies are selling enlisted men as young as 19 
years of age expensive life insurance policies which actually pay out 
less than $30,000. These young men and women are forced to attend 
``financial courses'' held by these salesmen who are usually former 
military men, men that these young men and women look up to.
  Young GIs, who are being taught to trust their commanding officers, 
are deceptively told they are enrolling in savings accounts and are 
given papers that they are not permitted enough time to look over. They 
are ordered to sign here without question.
  Protecting those who protect us certainly is a bipartisan priority, 
and I look forward to working with the gentleman from Ohio (Mr. Oxley) 
and the other members of this committee on this very important issue.

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