Washington– Thursday, Congressman Mike Conaway (TX-11) released the following statement upon passage of the Financial CHOICE Act:
“The Dodd-Frank Act created a staggering 27,669 new regulations. Wall Street’s big banks can afford the overwhelming costs of compliance, but community banks, small businesses, and farmers and ranchers are struggling to hire new employees, invest in their futures, or get the loans they need to expand. The CHOICE Act delivers the regulatory relief Main Street needs, while increasing accountability and transparency within larger financial institutions.
“The CHOICE Act ends taxpayer bailouts, holding Wall Street accountable for its own actions. It also cuts the deficit by $24 billion, and reduces the size of the bureaucracy. It’s time government stops working for a select few, and starts working for the financial future of every American.”