Removing Barriers Blog

Committee Settles in for a Long Day at CHOICE 2.0 Mark-up
Posted May 02, 2017 by CUNA Advocacy

As predicted, the start of the House Financial Services Committee mark-up for the CHOICE 2.0 Act has been very partisan and will be very long.  The Clerk of the Committee is currently reading the full text of the legislation – which is nearly 600 pages (and is expected to take 6 hours to read). 

Prior to the request for the full text to be read, Members of the Committee were given the opportunity for a two-minute opening statement.  Many Members took advantage of their two minutes and mostly stuck to party-lines.  CUNA is encouraged by a number of Members who highlighted the difference of credit unions and community banks by contrasting them against the large banks who caused the financial crisis.  They also reiterated the need for common-sense regulations that work for Main Street, not Wall Street. 

The hearing is currently in the middle of hour four – at the current rate Members will not be able to offer Amendments until late this afternoon or early evening.  CUNA is in constant contact with Committee staff today and will continue to advocate on behalf of America’s credit unions and their 110 million members as this legislative process continues.