Press Releases

Rep. Roybal-Allard Statement on Wrong Choice Act to Roll Back Dodd-Frank Reforms

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Washington, June 8, 2017 | Ben Soskin ((202) 225-1766) | comments
Congresswoman Lucille Roybal-Allard (CA-40) issued the following statement about her vote today against the Financial CHOICE Act of 2017 (H.R. 10), also known as the “Wrong Choice Act”:

“Today, I voted against the Wrong Choice Act, a bill to roll back crucial Dodd-Frank reforms to our financial system.  It is clear that House Republicans are using this bill to give a handout to predatory Wall Street lenders while putting working families at greater financial risk.  The bill would once again subject American families and the American economy to the risky banking practices that led to the Great Recession.

“The Wrong Choice Act is truly dangerous for consumers.  It endangers the financial stability of service members, seniors, and Americans saving for retirement.  It dismantles the Consumer Financial Protection Bureau, and it removes shareholders’ rights to hold companies accountable for risky behavior.  Are Republicans’ memories so short that they want to repeal the safeguards Congress put in place to protect our nation’s families and economy following the financial calamity of just ten years ago?

“I will continue to stand up for consumers and reject any efforts to reinstate the risky and irresponsible policies that produced the financial crisis.”

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