The U.S. House of Representatives has announced the passage of the Financial CHOICE Act (Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs), legislation to overhaul and replace the Dodd-Frank Act.
“Every promise of Dodd-Frank has been broken,” said House Financial Services Committee Chairman Jeb Hensarling (R-TX), the bill’s author. “Fortunately there is a better, smarter way. It’s called the Financial CHOICE Act. It stands for economic growth for all, but bank bailouts for none. We will end bank bailouts once and for all. We will replace bailouts with bankruptcy. We will replace economic stagnation with a growing, healthy economy.”
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