H.R. 10: Financial CHOICE Act of 2017

Author's Summary: "To create hope and opportunity for investors, consumers, and entrepreneurs by ending bailouts and Too Big to Fail, holding Washington and Wall Street accountable, eliminating red tape to increase access to capital and credit, and repealing the provisions of the Dodd-Frank Act that make America less prosperous, less stable, and less free, and for other purposes."

IB's Summary: This bill will gut the Consumer Financial Protection Bureau and other important protections for consumers detailed in the Dodd-Frank Act, such as preventing predatory lending, excessively high interest rates or unjustified fees, and bait-and-switch low-rate loans. This bill will re-allow the practices that caused the subprime crisis of 2007 and the Great Recession.


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