House Committee Approves Financial CHOICE Act

Phil Hall

May 04, 2017

The House Financial Services Committee passed the Financial CHOICE Act (H.R. 10) in a 34-26 vote along party lines.

The legislation is designed to put the Consumer Financial Protection Bureau (CFPB) under Congress’ oversight and add new limits to its enforcement authority. It would also allow banks to boost their capital holding while relaxing some of the Dodd-Frank Act’s banking mandates.

"Republicans are eager to work with the president to end and replace the Dodd-Frank mistake with the Financial CHOICE Act because it holds Wall Street and Washington accountable, ends taxpayer-funded bank bailouts, and unleashes America’s economic potential," said Rep. Jeb Hensarling (R-TX), the committee’s chairman. The legislation is now set to go to the full House of Representatives for debate and a final vote.

Link copied

Published

May 04, 2017

People On The Move

Keeping Current Matters Names Ratiu Chief Economist

Held similar positions with Realtor.com and NAR.

Keeping Current Matters (KCM), a Richmond, Va.-based market insight education and content provider for the real estate industry, said Thursday it has named George Ratiu the company’s chief economist. George RatiuRatiu brings decades of experience...

Analysis and Data

Fannie Mae: Banking System Instability Could Cause Recession

ESR Group says housing activity expected to remain subdued.

The U.S. economy will not see a repeat of the 2008 financial crisis this year, but a “modest recession” is still on the horizon, according to the latest projections by Fannie Mae’s Economic and Strategic Research (ESR) Group. The ESR Group on Friday revised upward its first...