In the past, deceitful financial companies and
agents often preyed on young soldiers to sell
them unnecessary and excessively-priced
financial products. Time and time again, our
troops were being taken advantage of by
unscrupulous sales people selling deceptive
financial products. Congressman Davis was a
victim of such a sales pitch when he was a flight
commander; he and his wife Pat lost about half
of their savings after investing in one of these
schemes. Congressman Davis swore then that if
he were ever in a position to do something about
these dishonest practices to protect other
soldiers from the same fate, he would.
As soon as he was sworn into Congress,
Congressman Davis introduced his first piece of legislation, the Military Personnel Financial Services Protection Act of 2005 (H.R. 458). The bill aimed to safeguard our soldiers from companies selling risky financial products, including expensive and unnecessary life insurance, mutual funds with excessive fees, and other bad investments that are typically targeted at our soldiers.
Congressman Davis' legislation received wide bipartisan support in Congress and was ultimately signed into law on September 29, 2006.
View the Legislation
You can read a PDF of the final version of Congressman Davis' legislation by clicking here.
Read More
Learn more about Geoff's fight to protect our troops from dishonest financial products:
January 2, 2007:
Successes in the 109th Congress
September 25, 2006:
Cracking Down on Predatory Lending to Servicemembers
September 18, 2006:
Congressman Davis’ Legislation to Be Considered Before the Full House on Tuesday, September 19
July 6, 2005:
The Cincinnati Enquirer Editorial: Help Davis to help our troops
June 28, 2005:
Congressman Geoff Davis’ first bill, The Military Personnel Financial Services Protection Act, passes the House
March 16, 2005:
Financial Services Committee approves Congressman Davis' first bill
February 6, 2005:
The Military Personnel Financial Services Protection Act of 2005
February 2, 2005:
Davis' first bill based on military experience
