Date: 1992-09-30
Speaker: FRANK ANNUNZIO (democrat)
Chamber: H

a staunch defender of and his colleagues. FRANK can be proud of his the rights of the working class who has also accomplishments. and I wish him the best In dedicated his career to ensuring that the his future endeavors. American public is aware of the many con- Mr. LaROCCO. Mr. Speaker. I rise today to tributions made by the ItalianAmedcan coin- join my colleagues from the Banking Commitmunity to our country. it has been a privilege tee In paying tribute to the retiring chairman of to serve with FRANK. who came to Congress our Financial Institutions Subcommittee. Mr. in 1965. having served earlier as Illinois sec- FRANK ANNUNZIO of Illinois. retary of labor. During his tenure In Congress. As a first term member of the Banking CornFRANK has endeared himself to the people of mitte. t has been my good fortune to be a the 11th District of Illinois with his dedication member of Mr. ANNUNZiQs subcommittee and to advancing consumer rights. to experience him as a chairman. FRANK has always been sensitive to the Throughout this Congress. under Mr. ANneeds of members of the working class and NUNZiOS leadership. all of the members of the vigorously pursued a legislative agenda which Financial Institutions Subcommittee have been sought to improve their lives. As chairman of treated honorably. the Banking Subcommittee on Consumer Af- All of useven the newest members--have fairs and Coinage. he tirelessly fought to bring been given the opportunity to speak. to have credit card Interest rates under control and our ideas and our amendments considered. succeeded in bringing this issue to our atten- and to pursue Issues of Importance to us. tion. After serving 14 years as chairman of the Mr. Speaker. FRANK ANNUNZIO has been a Subcommittee on Consumer Affairs and Coin- valuable Member of this body. and I join with age. FRANK was thrust into the new role of my colleagues in wishing him a long. happy chairman of the Banking Subcommittee on Fi- and productive retirement. nanclal Institutions Supervision. Regulation Mr. VENTO. Mr. Speaker. I rise today to and Insurance. He handled this move with the honor one of my mentors and great leaders of courage and zeal we have come to expect of this distinguished body. FRANK ANNUNZIO. For him. FRANK has been a longtime advocate of 28 years. FRANK has been the consummate savings and loans because of their role in fi- public servant watching out for the citizens of nancing home mortgages. particularly for the 11th District of Chicago as well as for the wage eamers who have trouble getting loans working class. elderly and consumers throughfrom commercial banks. He believes that sav- out this Nation. ngs and loans are institutions that belong to First and foremost FRANK ANNUNZIO has althe average American. the common American. ways remembered from where he came as the middleclass American. In FRANKs role as well as who sent him to Congress and he has chairman. he wanted to ensure the financial been a man of the people. He was consoundness of the S&L Industry but also guar- fortable shaking hands of constituents. whethantee that S&Ls would continue to serve av- er union folk. students or business executives erage Americans. FRANK also pushed for and chatting over a cup of coffee at the neighstronger penalties for S&L fraud. Including civil borhood senior citizens center. His common penalties of $1 million a day for violations. On touch with people Is evident In Congress as any Issue. no one can doubt where FRANK well. He knew what taking the time to listen to stands. He speaks boldly for what he believes the concerns of the private citizen would make and is always willing to confront complex is- him a far more effective public legislator. and sues with tenacity. this knowledge served him very well throughAs an ItalianAmerican. FRANK Is acutely out his tenure. aware of the challenges ethnic differences FRANKs fervent protection of the common pose to our society. As one of the founders of man against the evergrowng onslaught of the National Italian American Foundation powerful special Interest lobbyists and big (NIAF]. of which I am also a member. FRANK business representatives Is evident In numerhas been Instrumental In Increasing Amed- ous pieces of legislation and policy he guided cans awareness of the contributions that Ital- to enactment. lanAmericans and their descendants have As chairman of the Subcommittee on made In social. economic. and political circles. Consumer Affairs and Coinage for 15 years. FRANKs devotion to enhancing our knowledge he shepherded through the Truth In Lending of these contributions is an Integral Ingredient Act. the Fair Credit Billing Act. the Consumer of NIAFs success story. As a result of his Leasing Act. the Fair Debt Collection Practices toils. NIAF has been able to fund cultural and Act. and the Electronic Funds Transfer Act. All education programs and projects. award of these bills made banking and business scholarships and internships. and monitor the more readily understood. and protected the media to ensure a fair and balanced portrayal average consumer. of ItalianAmericans. Annually. NIAFs gala More recently. as chairman of the Financial awards dinner draws nearly 3.000 people from Institutions Subcommittee. FRANKs leadership the United States and abroad. NIAF has hon- helped guide this Nation through the biggest ored such ItalianAmericans as Antonin Scalia. financial disaster since the Great Depression Frank Sinatra. Joe DiMagglo. Lee lacocca. A. by crafting comprehensive reform legislation Bartlett Giamatti. John Sirica. and Uza and holding timely oversight hearings and InMinnell. as well as Luciano Pavarotti and So- vestigations. Under his leadership. the subphia Loren. Every sitting President has at- committee drafted the Financial Institutions tended the dinner since It was launched in Reform. Recovery and Enforcement Act. the 1975. Resolution Trust Corporation Refinancing. ReThroughout FRANKs service in the U.S. structuring and Improvement Act. and the FedCongress. he has labored with dignity and for- eral Deposit Insurance Corporation Improvetitude. He will be remembered for his compas- ment Act. All of these measures Increased the safety of our Nations savings deposits and decreased the likelihood of any future widescale financial disasters. These measures bear the stamp of common sense law that Chairman ANNUNZIO espoused. FRANKs Impact could be found on far more than banking legislation. He helped reform the Small Business Admirnistrtlon. advocated the liberalization of archaic immigration quota systems. attached loan sharking and money laundering. and Introduced numerous commemorative Coln acts which raised hundreds of millions of dollars for the U.S. Treasury. He was also a faithful soldier and supporter of a strong Medicare and Social Security system. FRANK has had two great loves in his lifehis citizens and his family. For the past 28 years he has put a lot of time Into representIng his citizens. Now. he Is going to go home and spend some quality time with his wife. Angle. and their three children. seven grandchildren. and one greatgrandchild. I know that FRANK will not stop fighting on behalf of what he feels Is right. As FRANK has been fond of noting lately: he Is leaving Congress--he Is not leaving the people. Thats good news for all.