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Rep. Davis Reaffirms HIs Strong Support for HR 1500 Consumers First Act

May 21, 2019
Press Release
Tomorrow the House will consider the Consumers First Act (HR1500). Rep. Davis today repeated his strong support for Consumer Rights and spoke out forcefully in favor of this critical legislation.
  • H.R. 1500, the Consumers First Act, returns the Consumer Bureau to its intended role as a nonpartisan consumer watchdog that elevates the interests of American taxpayers above those of the special interests. This bill:
  • Directs the leadership of the Consumer Bureau to reverse all anti-consumer actions taken under Mr. Mulvaney’s leadership, including resuming examinations of regulated entities to ensure active-duty servicemembers and their families are being protected from financial marketplace abuses;
  • Restores the supervisory and enforcement powers of the Consumer Bureau’s office tasked with combating discriminatory lending practices;
  • Reestablishes a dedicated student loan office to protect 44 million student loan borrowers against predatory practices in student lending;
  • Requires adequate agency staffing, including for supervision and enforcement;
  • Limits the number of political appointees that may be hired;
  • Mandates that the consumer complaint database remain transparent and publicly accessible; and
  • Reinstates the Consumer Advisory Board dismantled under Mr. Mulvaney’s term and adds new protections to ensure that the interests of consumers are fully represented.

  • There is broad supportfor this bill among consumer, civil rights and labor organizations including Americans for Financial Reform, Center for Responsible Lending, Communication Workers of America, Consumer Action, Consumer Federation of America, CREDO, The Leadership Conference on Civil and Human Rights, Main Street Alliance, NAACP, National Consumer Law Center (on behalf of its low-income clients), National Fair Housing Alliance, and Public Citizen among others.