Budd Applauds Financial Services Committee Passage of Financial Choice Act of 2017
Rep. Ted Budd (R-NC), a member of the House Financial Services Committee, released the following statement regarding committee passage of the Financial Choice Act:
“This bill is about two things: strengthening the financial system through, simple, strong regulation so that economic bumps in the road do not become crises, and ensuring that if banks do get into trouble, they’re put into the bankruptcy system instead of getting bailed out. I’m also pleased with the fact that a full repeal of the Durbin Price Control was included in the base text of the bill. As a result of the Durbin provision, checking fees have doubled, and a million low-income Americans have been driven out of the banking system.
I’m looking forward continuing to fight for the repeal of both the Durbin Price Control and Dodd-Frank as the Financial Choice Act moves through Congress.”