REP. KIHUEN: FINANCIAL CHOICE ACT AN ATTACK ON WORKING FAMILIES
FOR IMMEDIATE RELEASE
“The Financial CHOICE Act is nothing more than a misguided attempt to return to the days where bad actors could put the entire financial system at risk. There’s bipartisan support to provide regulatory relief for community banks and credit unions. Just last week I met with credit unions in my district, and they talked about the need for thoughtful, tailored regulation. Unfortunately, that kind of thoughtful reform is not what’s before us today. Instead, we have a bill before us that is a fundamental attack on working families.
“This bill will make it harder to go after bad actors in the financial markets by hamstringing regulators and would completely gut the Consumer Financial Protection Bureau. It would eliminate important programs that ensure that taxpayers will not be on the hook for future bailouts and makes our financial system less secure.
“The district I represent was one of the hardest hit in the financial crisis. My constituents sent me here to ensure that we don’t repeat the mistakes of the past, which is exactly what this bill does.
“The Chairman has named this bill the CHOICE Act, and I think it’s a fitting name. Each of us here today has a simple choice to make: do we side with the working families of American who sent us here or do we side with the special interests who have pushed so hard to cripple Dodd-Frank?”