Bonnie Watson Coleman: “In the wake of the financial crisis, 7.8 million American consumers lost their homes through foreclosure. The failure to…”

“In the wake of the financial crisis, 7.8 million American consumers lost their homes through foreclosure. The failure to have a responsible regulatory environment also resulted in taxpayers paying $7 trillion to bail out financial institutions through loans and, according to some reports, an additional $22 trillion through the Federal Government's purchase of assets. My home State of New Jersey was severely impacted by this crisis and still feeling the effects. So this is personal. The Financial CHOICE Act is the wrong choice for Americans. This bill guts many of the commonsense protections that are outlined in Dodd- Frank and severely restricts the Consumer Financial Protection Bureau from doing its job. The ``Wrong'' CHOICE Act gives Wall Street a hand while ignoring the needs of hardworking Americans. It will allow predatory lending practices to go unchecked and profiteers on Wall Street to skirt consequences. Wall Street reform and other Democratic policies have given our country the strongest consumer protections in history. I will continue to stand up for hardworking Americans and reject the ``Wrong'' CHOICE Act before Republicans pave the way back to the dark days of the financial crisis. ____________________”