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Hensarling Discusses Financial CHOICE Act with Hugh Hewitt and Brian Kilmeade

Washington, Jan 13 -

House Financial Services Committee Chairman Jeb Hensarling (R-TX) appeared on two national talk radio shows this week to discuss the need to repeal the Dodd-Frank Act and replace it with the Financial CHOICE Act.

The Financial CHOICE Act – which stands for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs – holds both Wall Street and Washington accountable. It ends taxpayer-funded bailouts for banks. It reduces the regulatory burden Dodd-Frank has placed on community banks and credit unions and replaces it with policies that unleash economic opportunities for Main Street. In a phrase, the Financial CHOICE Act will create economic opportunity for all and bailouts for none.

Hensarling on the Hugh Hewitt Show:

“I know it is a priority of President-elect Trump…He has said he’s committed to dismantling Dodd-Frank, and in the House Financial Services Committee we have a bill to allow him to do that. I don’t think there’s another bill out there today that does do that. So it is a priority of the administration, and conversations I’ve had at high levels of the administration, I know they’re interested in using the reconciliation process. And we can get rid of the bank bailout fund, called the Orderly Liquidation Authority where – yes – taxpayers are on the hook for bailing out big banks. It’s just amazing that eight years after the crash that taxpayers are still on the hook for bailing out big banks, but they are under Dodd-Frank…We can absolutely get rid of that.”

Hensarling on Fox News Radio’s Kilmeade & Friends:

“We have to repeal (Dodd-Frank) and replace it with legislation to insure that every American has the opportunity for financial independence. Basically, economic growth for all, bailouts for none. Dodd-Frank is to household finances what Obamacare is to household healthcare….What’s interesting is even Barney Frank has indicated he would change about a half a dozen fairly significant provisions of his own namesake law but there are so many democrats who view this as sacred text like it came down from the tablets on Mt. Sinai and it’s kind of an ideological commitment, a class warfare thing, but meanwhile the big banks are getting bigger, the small banks are getting fewer and the poor beleaguered middle income American is seeing his paycheck stagnant and his savings decimated, it has failed.”

To listen to the full interview on the Hugh Hewitt Show, click here. To listen to the full interview on Kilmeade & Friends, click here.

To learn more about the Financial CHOICE Act, visit republicans-financialservices.house.gov/choice.