Kustoff Applauds Passage of the Financial CHOICE Act
Washington, D.C. – U.S. Representative David Kustoff (TN-08), a member of the House Financial Services Committee, today released the following statement after voting for the Financial CHOICE Act of 2017 (H.R. 10). This legislation, which will reduce unnecessary regulatory burdens on financial institutions and allow businesses and individuals to access more capital, passed the House of Representatives by a vote of 233-186.
“Today, I was proud to support the Financial CHOICE Act of 2017, important legislation that will eliminate the Dodd-Frank Act and finally allow small businesses and individuals to access the capital they need to grow and prosper,” said Kustoff. “For seven years, the Dodd-Frank Act has stifled the American dream with more rules and regulations than all other Obama-era laws combined, including Obamacare. Held back by Dodd-Frank’s overreaching regulations, rural communities in West Tennessee and all across America have not had the luxury of Washington's protection.
“The Financial CHOICE Act will level the playing field and allow smaller, local financial institutions to contribute to their community’s economic growth and be a lifeline for small businesses, farmers, entrepreneurs and anyone striving for true financial independence. This legislation will end taxpayer-funded government bailouts once and for all and will hold Washington and Wall Street accountable.”
On April 13, Kustoff penned an op-ed for CNBC.com discussing the importance of repealing Dodd-Frank in order to revive the economy in West Tennessee and across the country.
Kustoff is a member of the House Financial Services Committee, serving on three subcommittees for the 115th Congress: Financial Institutions and Consumer Credit, Oversight and Investigation and Terrorism and Illicit Finance. He previously served as the U.S. Attorney for the Western District of Tennessee under President George W. Bush.