The House passed H.R. 10, the Financial CHOICE Act by a vote of 233 to 186. The Financial CHOICE Act ends the “too big to fail” mindset and bank bailouts; demands accountability from Wall Street and financial regulators, such as the Consumer Financial Protection Bureau; provides regulatory relief for Main Street and community financial institutions; and unleashes opportunities for economic growth, among other things. Representative Randy Weber (R – Friendswood) released the following statement in support of the bill:

“Families and small businesses have suffered more than enough due to costly regulations and decisions from on high.  Whether planning for retirement, opening a business, buying a home, or investing in the next big idea, the more than 27,600 regulations enacted by Dodd-Frank have affected our daily lives.  

This is unacceptable. So, we did something about it.

We restored accountability, which has been seriously lacking since Dodd-Frank became law. Now, small businesses can access the resources they need in order to grow and continue contributing to their local communities. The CHOICE Act is tough on Wall Street, fair to Main Street, and better for everyone.”

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