The Financial CHOICE Act repeals and reforms harmful Dodd-Frank Act regulations while protecting consumers from deceptive practices
Washington – Following the vote on HR 10 – The Financial CHOICE Act, Congressman Kenny Marchant (TX-24) released the following statement:
“Supporting The CHOICE Act kept the promise to my constituents to remove job-killing regulations, increase consumer choice, and impose severe penalties against institutions that commit financial fraud.
“Strong communities – like the one I represent in North Texas – are based on the strength of their local businesses. This legislation ensures that local businesses and entrepreneurs throughout North Texas have the ability to access the capital they need to hire more Texans and grow their companies. Under the Dodd-Frank Act, community banks across the country are closing their doors at a rapid pace, centralizing more money on Wall Street and less investment in our neighborhoods.
“We need fundamental reforms to the unconstitutional structure of the CFPB. My priority is financial freedom for consumers while imposing strict penalties against financial institutions engaging in deceptive practices.”