Congressman Duffy on FSC's Approval Of Financial CHOICE Act

Statement

Congressman Sean Duffy (R-WI), Chairman of the House Financial Services Subcommittee on Housing & Insurance, today released the statement following the Financial Services Committee's approval of the Financial CHOICE Act:

"Millions of Americans are still suffering from President Obama's economic policies and the disastrous Dodd-Frank Act. Since it was shoved through Congress, bank fees have gone up, free checking is all but gone, and small community banks have been choked out of existence. Dodd-Frank's regulations have made it harder to achieve the American Dream.

"Thankfully, under Chairman Hensarling's leadership, there is a better way. The Financial CHOICE Act is an off-ramp from Dodd-Frank's rules and regulations, will help restore our small community banks and credit unions to their important role in our communities, and will jumpstart economic growth.

"I am pleased that several of my ideas are incorporated into the bill, including reining in the CFPB by prohibiting them from soliciting information on non-public personal information without your permission, putting a stop to the CFPB's wasteful use of taxpayer dollars, and making significant changes to the SEC on the registration of proxy advisory firms that prohibit unfair, coercive, and deceptive practices."

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