Removing Barriers Blog

CHOICE 2.0: Minority Hearing Held
Posted April 28,2017 by CUNA Advocacy

During the Full House Financial Services Committee hearing on the CHOICE 2.0 Act earlier this week, Ranking Member Maxine Waters requested a “Minority Day” hearing on the legislation.  The Ranking Member was granted her request and the Democrats of the Committee met today to continue their debate of CHOICE 2.0 (which they referred to as the Wrong CHOICE 2.0).   

Senator Elizabeth Warren made an appearance as a witness and dismissed claims that Dodd-Frank has complicated lending practices, instead asserting that access to business credit and small dollar lending have increased.  Unfortunately, Senator Warren does not speak on behalf of America’s credit unions, because lending practice, access to business credit, and small dollar lending have been under attack by the overly burdensome regulations of the Dodd-Frank Act and the creation of the CFPB.   

While today’s Committee debate stayed on the minority side of the dais, CUNA will continue to work with both sides of the aisle to ensure meaningful and common-sense regulatory reforms are implemented.  Next week, the full Committee will meet again to mark-up CHOICE 2.0.