The House Financial Services Committee markup of Rep. Jeb Hensarling’s (R-Texas) Financial CHOICE Act continues into Wednesday after a day that included opening statements and several hours of the bill being read aloud to the committee.
CUNA remains engaged with committee staff as the markup continues, and remains focused on ensuring the CHOICE Act provision that repeals the Durbin Amendment remains in the bill.
A number of committee members, during opening statements, lamented the post-Dodd-Frank increase of regulatory burdens and its effect on credit unions and other community financial institutions. Those members noted that despite Dodd-Frank’s goals, it was in fact making it harder for consumers to access credit, a point CUNA has addressed many times in letters and testimony to the committee.
For more information, see CUNA’s Removing Barriers Blog.
The markup will resume Wednesday at 9 a.m. (ET), and recorded votes will begin then, Hensarling said.