We've long believed the new Financial CHOICE Act, a bill we've been involved in crafting and that was released this week by Rep. Jeb Hensarling (R-Texas), could be a bold opening move in achieving many of the goals we've set with our Campaign for Common-Sense Regulation. Our initial detailed analysis of the proposal has found that, in many areas, it would in fact soften the blow of overregulation, untangling your operations and improving service to members.
Still, the bill contains several flaws that must be addressed. As the legislation moves forward, including at the House Financial Services Committee hearing April 26, the eventual markup of the bill, and the floor vote, we must continue to express our priorities to Congress, not only to shape the House bill, but also ultimately to encourage the Senate to act. We should be proud of pushing financial regulatory reform to the top of the congressional agenda. But we must do more. Use our Campaign toolkit. Send out an action alert. Engage your members. Please go on Advocacy Offense with us!