Financial CHOICE Act to Promote Economic Growth and Hold Both Wall Street and Washington Accountable
Washington, DC — U.S. Representative Randy Hultgren (IL-14) today applauded House Financial Services Committee Chairman Jeb Hensarling’s (R-TX) alternative to the failed Dodd-Frank Act, the Financial CHOICE (Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs) Act.
“Following the 2008 financial crisis, Washington legislators rushed to pass a bill—the Dodd-Frank Act—that established an unworkable system of measuring risk and guarding against loss. Today credit is tighter, consumers are less secure, the root causes of the crisis have been left untouched, the big banks are bigger and the small banks are fewer. My own constituents—individuals and businesses alike—have been the collateral damage of these failed policies,” said Rep. Hultgren. “Chairman Hensarling has put forth an alternative that provides more accountability of both Wall Street and Washington. It ends the bailouts, promotes more savings and options for consumers and creates a more level playing field for job creators. The CHOICE Act allows financial institutions to provide hard-working Americans the financial services and access to credit they deserve, while increasing penalties and accountability for bad actors. It respects the constitutional role of each branch of government, and upholds the conservative principles that have made this country the most prosperous in history. I look forward to moving this legislation through the House Financial Services Committee and the full House.”
Rep. Hultgren is a member of the House Financial Services Committee, Vice-Chairman of the Subcommittee on Capital Markets, Securities and Investment and member of the Subcommittee on Housing and Insurance.