Political Quotes

“I especially want to thank Chairman Hensarling and the entire committee for all their hard work in getting us to this point to be able to pass H.R. 10, the Financial CHOICE Act, a very important bill to reform significant parts of Dodd-Frank that are failing. The Financial CHOICE Act is an important recognition of the many mistakes that policymakers made leading up to and responding to the financial crisis. There is no doubt that the American people demanded changes from Washington when the financial crash led to higher unemployment, huge drops in home values, and lost hope and opportunities; but instead of reforms that would increase competition and decrease systemic risk, the Dodd-Frank Act grew government and piled new regulations on community banks and credit units and enshrined too big to fail into law. Forty-two community banks and 106 Illinois credit unions have closed their doors since Dodd-Frank was signed in 2007. This is unacceptable. I am grateful that regulatory relief legislation that I have championed is included in the Financial CHOICE Act, things like the Community Bank Reporting Relief Act and many other provisions that will provide great relief to our local financial institutions. That is what the Financial CHOICE Act is all about: giving opportunities back to local communities to make good financial decisions for their future.”