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View Full Version : Dodd-Frank Has Crippled Our Economic Recovery. This Bill Will Unleash Real Growth Again.




Swordsmyth
05-19-2017, 08:24 PM
http://dailysignal.com/2017/05/18/dodd-frank-crippled-economic-recovery-bill-will-unleash-real-growth/

There are three major benefits to the CHOICE Act:

1. Repeals the most harmful parts of Dodd-Frank.
The CHOICE Act repeals most of Title I and all of Title VIII of Dodd-Frank. These were the most harmful sections that solidified the “too big to fail” policies that led to massive taxpayer bailouts. Additionally, it would repeal Title II, stopping the government from seizing troubled financial firms and putting them back in the hands of a time-tested bankruptcy system.
2. Enhances checks and balances.
The CHOICE Act would fundamentally reform the Consumer Financial Protection Bureau by putting it under congressional oversight and a proper appropriations process. It would also rein in the Federal Reserve’s emergency lending authority, making it more difficult for the Fed to conduct bailout-style loans. In addition, it would put any new major rule by financial regulatory agencies to congressional approval as part of the REINS Act (or Regulatory from the Executive in Need of Scrutiny Act).

3. Allows small business and free markets to thrive.
The CHOICE Act would unleash small business creation, innovation, and entrepreneurship by eliminating rules that limited capital formation over the last few years. It would also strengthen penalties on Wall Street for engaging in fraud, insider trading, and other corrupt practices.