MacArthur’s Statement on the Financial CHOICE Act
Washington, D.C. – Congressman MacArthur released the following statement after the House of Representatives voted to pass the Financial CHOICE Act:
As an entrepreneur who helped preserve and create thousands of American jobs, I’ve seen first-hand the challenges small businesses are facing in our current economy and understand how difficult it is to secure the necessary capital to open and expand companies. Since the adoption of Dodd-Frank, our community banks have been burdened with 22,000 pages of regulations, which have shut down lending and have literally shut down one community bank per day somewhere in the U.S.
The Financial CHOICE Act includes many bipartisan provisions that will remove excessive regulations, end big-bank bailouts, ensure consumer protections and hold those accountable who violate the public trust. These are important steps towards commonsense reforms that will unburden our community banks and increase small business growth throughout the country.