Hurd Statement on Financial CHOICE Act

Washington, D.C. – On Thursday after the House of Representatives passed the Financial CHOICE Act to replace Dodd-Frank, U.S. Representative Will Hurd released the following statement:

“Through duplicative regulations and excessive red tape, Dodd-Frank created an uneven playing field between large financial institutions and community banks and credit unions, who provide nearly half of all small loans to businesses and farmers. Tightening of lending and closures of community financial institutions across my district, as a result, have negatively impacted access to capital for the farmers, ranchers and small business owners in my district. The Financial CHOICE Act replaces the complex set of regulations, abused by Wall Street, so that small community banks aren’t treated with a one-size-fits-all solution and can continue providing local business owners with competitive financial services and access to the capital they need.”