Introduction of the Protections in Consumer Lending Act

Floor Speech

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Mr. GARCIA of Illinois. Madam Speaker, I am proud to introduce the Protections in Consumer Lending Act, which will empower the Consumer Financial Protection Bureau to understand, analyze, and scrutinize abusive practices by consumer lenders.

From mortgages to auto loans to credit applications, a pattern of discriminatory consumer lending exists throughout the economy. For instance, a recent study by the National Fair Housing Alliance found that White testers were offered better financing options on auto loans than non-White testers 75 percent of the time.

It is vital that the CFPB has access to the richest possible data on data discrimination in credit lending, and that is why I urge my colleagues to join me in supporting the Protections in Consumer Lending Act.

I encourage my colleagues to support this bill.

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