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CRN Applauds Chairman Hensarling’s, Financial Services Committee’s CHOICE Act

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WASHINGTON, DC – Almost six years ago, liberals rammed through the Dodd-Frank Act, a complex, 2,300-page regulatory behemoth that empowered Washington bureaucrats over consumers. The law has been a failure: Dodd-Frank has hampered America’s economic growth and harmed consumers.

This morning, House Financial Services Committee Chairman Jeb Hensarling (R-TX) unveiled the details of a market-based alternative to replace Dodd-Frank: the Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs Act (CHOICE Act).

In response to Chairman Hensarling’s release of the CHOICE Act, Neil Bradley, the Conservative Reform Network’s chief strategy officer, released the following statement:

American families are suffering. Weak economic growth and declining new business formation have resulted in fewer job opportunities and stagnant wages. There are many culprits to our current malaise, including a system of financial regulation imposed by Washington liberals that puts more faith in government regulators than in the American people. The result is less capital to start a business, expand a factory, or buy a home. In short, under Dodd-Frank, Washington got more power and the rest of America got a lower standard of living.

That is why the Financial CHOICE Act unveiled by Chairman Jeb Hensarling (R-TX) today is so important. The Financial CHOICE Act is a comprehensive alternative to the current regulatory regime, and if enacted, it would reduce Washington’s overreach and boost economic growth, job creation, and wages across America.

The Conservative Reform Network applauds Chairman Hensarling and the House Financial Services Committee for producing the kind of policies necessary to restore the promise of the American dream.