House Dems Hold Separate Hearing on Dodd-Frank Replacement

Apr 28, 2017

A new bill introduced in the U.S. Senate by Sen. Catherine Cortez Masto (D-NV) and in the House by Rep. Nydia M. Velázquez (D-NY) seeks to reinstate Dodd-Frank Act reporting requirements

Democrats on the House Financial Services Committee are holding a “Minority Day Hearing” today to voice their disapproval of the Financial CHOICE Act, the Republican-backed bill that would make significant changes to the Dodd-Frank Act.

According to a press statement that sarcastically referred to the Republican bill as “the Wrong Choice Act,” the Democratic hearing will feature witnesses including Sen. Elizabeth Warren (D-MA) and Rev. Willie Gable, pastor of the National Baptist Convention USA Inc. The hearing is a rare case where the minority party in the House can select its own witnesses to discuss a proposed bill.

Rep. Maxine Waters (D-CA), the committee’s ranking member, stated that “Democrats are going to set the record straight” and accused her Republican colleagues of offering a “Wall Street giveaway bill” with their legislation.

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Phil Hall

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Apr 28, 2017

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