Press Releases

Rep. Loudermilk (R-GA) issued the following statement after voting in support of the Financial CHOICE Act, which passed the House of Representatives:

“The Dodd-Frank Act was passed in the shadows of the most devastating economic recession in our lifetime. After Congress forced taxpayers to bail out big banks at a cost of over one trillion in taxpayer dollars, the same Congress passed Dodd-Frank under the guise of ending ‘too big to fail’ and protecting consumers. However, the results of Dodd-Frank have been the exact opposite, as big banks are bigger and small banks are fewer. In addition, formation of new local community banks, relied upon by thousands of small businesses, is virtually nonexistent.

“The CHOICE Act repeals the portions of Dodd-Frank that protect Wall Street while alienating the small guy on Main Street. This legislation provides opportunities for all and bailouts for none. Small business owners and consumers in my district, and around the country, have suffered long enough from the overbearing government bureaucracy of Dodd-Frank.

“The Financial CHOICE Act pushes government out of the way by bringing fresh, new ideas that foster economic growth and create new and better jobs. It brings health back to our economy and gives choices back to consumers. Americans deserve the opportunity to pursue a bright, promising future with financial freedom.”

Background

The Financial CHOICE Act, H.R. 10, protects consumers and helps grow the U.S. economy by requiring accountability from both Washington and Wall Street. It replaces the Dodd-Frank Act, ending 'too big to fail,' removing excessive financial regulations, and removing obstacles to credit and capital.

Watch Rep. Loudermilk's floor speech on the Financial CHOICE Act