The chairman of the House Financial Services Committee on Tuesday revealed details of the Republican plan to replace the Dodd-Frank Act.
The Republican alternative is called the Financial CHOICE Act – CHOICE standing for “Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs.”
“If we want strong economic growth and more freedom, we must empower Americans, not Washington bureaucrats,” said committee chairman Rep. Jeb Hensarling (R-Texas). “We must offer all Americans greater opportunities to raise their standard of living and achieve financial independence. In a phrase, we need economic growth for all and bank bailouts for none. This is the foundation of the Republican plan to reignite growth by replacing Dodd-Frank with real reforms that work.”