Financial CHOICE Act
From ACT Wiki
US bank regulation.
A bill to repeal substantial parts of the Dodd-Frank Act.
CHOICE is an acronym for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs.
Dodd-Frank replacement unveiled
- In an ambitious plan to undo the US Dodd-Frank financial reform law, the head of the US House of Representatives banking panel has released a second draft of a replacement act.
- ... Republicans including President Trump believe Dodd-Frank, which has not been fully enacted, is unduly burdensome on banks and businesses, and restricts lending.
- The Treasurer magazine, May 2017, p8
Financial CHOICE Act died, but parts of it were incorporated into other bills
- This bill would make sweeping changes to the financial regulatory system by revising the changes that were put in place after the 2008-2009 economic crash. The bill would weaken the Consumer Financial Protection Bureau, the Financial Stability Oversight Council, and regulations that prevent commercial banks from trading for their own gain, among other changes.
- This bill was introduced in a previous session of Congress and was passed by the House on June 8, 2017 but was never passed by the Senate. Provisions of this bill were incorporated into other bills.
- US GovTrack, accessed May 2020
See also
Other links
Summary of the Dodd-Frank Act: Swaps and Derivatives, Practical Law
