Budd Statement On Passage of Financial Choice Act

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Washington, DC, June 8, 2017 | comments

Representative Ted Budd (R-NC) released the following statement in regards to the passage of the Financial CHOICE Act:

“The more complicated the system, the more likely it is to break down.  Dodd-Frank is nothing if not complex, adding 400 new rules and 2,300 pages of new regulations onto the financial system. The Financial Choice Act replaces this complexity and weakness with simplicity and strength. Under Choice, banks that, in essence, keep significant cash on hand as a shock absorber against economic bumps in the road, get out from under Dodd-Frank’s web of red tape.  Families and small business owners know that there’s no substitute for savings during tough economic times. The principle behind the Financial Choice Act is to put a similar standard on banks.”

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