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April Fools.
We are not fans of Dodd-Frank and we’re doing something about it.
Under Dodd-Frank (a.k.a. Washington’s Financial Control Law), Wall Street’s “too big to fail” banks have gotten even bigger, while community banks that had nothing to do with the financial crisis are being crushed under bureaucrats’ one-size-fits-all regulations. The harm to consumers has been very real.
We can do better.
In the coming months, Republicans on the Financial Services Committee will advance a bold alternative that will offer greater opportunity to all and demand more accountability from Washington and Wall Street.
Our better approach will toughen penalties for those who engage in wrongdoing and defraud consumers. It will end taxpayer-funded bailouts and empower consumers with more choices, not more red tape.
It will help level the playing field and grow the economy from Main Street up.
Instead of out-of-control bureaucrats and job-crushing regulations, we’ll offer working families more freedom and more opportunity, so they can achieve financial independence, raise their standard of living, and earn success.
And that is no joke.
Happy April. Stay tuned for more updates on our work.
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