On the recordJune 8, 2017
I am here to support the Financial CHOICE Act, and for good reasons. Under Dodd-Frank, North Carolina has lost 50 percent of our banks since 2010, while three community banks have consolidated just in the last month. Monthly banking fees have increased 111 percent. As well, Dodd-Frank created the Consumer Financial Protection Bureau, which even the liberal D.C. Court of Appeals calls unconstitutional and a threat to individual liberty. Dodd-Frank has made the Wall Street banks even bigger and more powerful; and Dodd-Frank has contributed to the slowest, weakest economic recovery in 70 years, impeding access to capital and credit in the market for small business. Maintaining the status quo is not acceptable. The Financial CHOICE Act will impose the toughest penalties in history for fraud on Wall Street. It will end taxpayer bailouts for Wall Street and allow your community banks and credit unions to focus on serving you and your local business, which will help create jobs and grow the economy. The Financial CHOICE Act means opportunity for all Americans and bailouts for none.
