Banks Votes for CHOICE Act to Roll Back Dodd-Frank Law
Washington, D.C. – Congressman Jim Banks (IN-03) today issued the following statement after voting in favor of H.R. 10, the Financial CHOICE Act:
“The Dodd-Frank law has hurt Hoosier consumers, small businesses and families. It created over 27,000 regulatory restrictions that impose a crushing regulatory burden on local banks. The CHOICE Act will reverse this damage. By significantly rolling back Dodd-Frank, this bill will get government out of the way and allow Hoosier small businesses to gain access to the capital and resources needed to grow and create more jobs.”
Under the Dodd-Frank law, America is losing one community bank or credit union each day. Over 1,700 community banks have closed since the Dodd-Frank law took effect in 2010.
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