[Congressional Record Volume 163, Number 86 (Thursday, May 18, 2017)]
[House]
[Page H4346]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1700
                  GIVING CONSUMERS A FINANCIAL CHOICE

  (Mr. LaMALFA asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. LaMALFA. Mr. Speaker, in 2010, the Democratic majority passed the 
Dodd-Frank Act, a 2,300-page rewrite of America's financial laws. This 
sweeping law imposed significant costs on the economy, financial 
institutions, investors, small businesses, and American consumers.
  Dodd-Frank was supposed to help lift up our economy; instead, what we 
got was the slowest, weakest recovery in 70 years. It was supposed to 
end taxpayer-funded bailouts; instead, it enshrined, permanently, Wall 
Street bailouts into law. It was supposed to make the financial system 
safer; instead, big banks got even bigger, and we have one less 
community bank or credit union every day. It was supposed to protect 
consumers; instead, higher bank fees, more expensive mortgages, fewer 
choices, and the most unaccountable government agency in the history of 
the Republic, the CFPB.
  The Financial CHOICE Act moving through committee and to this floor 
soon will give consumers the protections they need and the opportunity 
for investment that has been so bottled up for many, many months--even 
years--in this country. The Financial CHOICE Act will be very helpful 
toward restarting our economy and bringing back, once again, consumer 
choice.
  Let's move this bill through.

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