WASHINGTON, D.C. – U.S. Congressman Pete Sessions (R-TX), Chairman of the House Committee on Rules, released the following statement applauding the passage of a package to make critically needed reforms to Dodd-Frank:
“For the past eight years Democrats forced Americans to comply with hundreds of new regulations that strained our economy and decimated job creation. One of the most egregious examples of the Obama-era’s regulatory agenda was Dodd-Frank. Dodd-Frank was nothing short of a complete disaster that shackled our economy to the chains of bureaucracy. It produced thousands of pages of rules and regulations that forced community banks to shutter their doors, saddled small businesses with costly compliance regulations, and put all Americans at a severe disadvantage.
“Today, the House turned the page on the era of onerous regulations and passed a measure to create real economic growth that allows our free-enterprise system to thrive. Under the leadership of Chairman Jeb Hensarling, this package responsibly rights the wrongs of Dodd-Frank by bringing accountability to the financial services industry, stopping taxpayer bailouts, and providing all Americans, regardless of their circumstances, the opportunity to achieve financial independence. Importantly, this legislative package also repealed the misguided and flawed Department of Labor Fiduciary Rule. I proudly supported this measure to unleash our economic prowess and reinvigorate our American economy.”
To learn more about H.R. 10, Financial CHOICE Act, click here.
Caroline Boothe, Communications Director