Jeb Hensarling, House Financial Services Committee Chairman, said Wednesday that he will hold a hearing to discuss the Financial Choice Act, his bill to replace Dodd-Frank, on April 26.
The Financial Services Committee approved the Financial Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs (CHOICE) Act in September.
The Committee plans to discuss the updated version of the bill, dubbed Financial Choice Act 2.0, at the April 26 hearing.
“Republicans are eager to work with the President to end and replace the Dodd-Frank mistake with the Financial CHOICE Act because it holds Wall Street and Washington accountable, ends taxpayer-funded bank bailouts, and unleashes America’s economic potential,” Hensarling, R-Texas, said in a statement announcing the hearing. “We want economic opportunity for all, bailouts for none. We want real consumer protections that will give you more choices. Our solution grows the economy from Main Street up, creates more opportunities for working families to get ahead, and levels the playing field with no more Wall Street bailouts.”
Hensarling announced on April 12 his plan to reintroduce his Choice Act in a matter of weeks, stating in a comment provided by a spokesperson that he looks forward to “working with the president and his administration to eliminate Dodd-Frank and replace it” with the Choice Act 2.0.