LUIS GUTIERREZ 4TH DISTRICT, ILLINOIS OPENING STATEMENT Congress of the United States CONGRESSMAN LUIS V. GUTIERREZ FEBRUARY 24, 1993 House of Representatives Washington, DC 20515-1304 Mr. Chairman, I want to thank you again for holding this important meeting. While I cannot speak for the rest of the members of this committee, I have to say that as I look back on our four previous meetings, and look ahead to testimony today about abuses from some segments of the insurance industry, I have two reactions. I am both saddened and angered. Why? Because week after week we have had to listen to examples of discrimination that is widespread throughout our financial services sector. This week, it is the insurance industry. I hate to see what it will be next week. My own city of Chicago was spotlighted in ACORN's insurance redlining study as having nearly a 40 percent difference between low-income and high-income areas in the number of homes insured. I want to learn more about what we can do to prevent this practice. We have plenty of laws already on the books to discourage discrimination against minorities and low-income Americans. They don't appear to be PRINTED ON RECYCLED PAPER working. hope to hear some suggestions about what will work today. I must add that after three weeks of testimony, I am more concerned than ever about the plight of minority and low-income residents of our inner cities. We have already learned that it is difficult for people in my community to find a place to deposit their money or to successfully secure a loan. Today we will hear that even if they can get a home loan, it might be jeopardized because of their inability to get the insurance they deserve, the insurance they have earned. I hope these hearings will be only the beginning of every member of this committees efforts to solve these problems. Thank you, Mr. Chairman. BOBBY L. RUSH 1ST DISTRICT, ILLINOIS Congress of the United States House of Representatives Washington, DC 20515-1301 OPENING STATEMENT OF CONGRESSMAN BOBBY RUSH FOR Thank you, Mr. Chairman. I am very Interested in today's hearing because I view the various forms of redlining that we will be looking at today as some of the most serious impediments to the kind of community development that I am seeking to generate on behalf of my district and others like it all across the country. Without insurance, businesses cannot be started and maintained; homeowners are in constant danger of losing their largest, and sometimes only, asset; and auto owners, if they can find a policy, must often spend large amounts of money for even the most minimal policles that they may or may not ever be able to collect on if they do have an accident. I would offer a word of caution to those who would come before this committee and deny that such redlining exists. I sit here today fresh from nine years of weekly open meetings with those in my Chicago ward whom I welcomed to come to me with their problems. Whether admitted or not, PRINTED ON RECYCLED PAPER redlining is alive and well in Chicago and cities like it. Rather, I would exhort those who might deny the existence of redlining to redirect their attention and efforts toward an immediate reversal of past patterns, and toward demonstrating to this committee specifically how and when this goal will be accomplished. There can be no real renewal of this nation -- cities, suburban and rural areas alike -- as long as these practices continue, and there is too much at stake in the lives of all Americans to delay beginning the work that must be done any longer. Thank you. |