ICYMI: House Committee Ranking Members Request Review of the Wrong Choice Act
Several House Committee Ranking Members submitted letters to their respective Chairmen requesting that their committees do not waive their jurisdiction over H.R. 10, also known as the Wrong Choice Act. The Wrong Choice Act, a wide-reaching financial services bill, makes financial markets less safe, puts consumers at risk, and undermines critical safeguards in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), the law that was put in place to protect the American economy from another financial crisis. The Wrong Choice Act jeopardizes the American economy in various ways and was accordingly referred to several other committees for their consideration.
“H.R. 10 would gut the progress we have made and place our economy at greater risk of another crisis.”
- Ranking Member Elijah Cummings (D-MD),
“Our Committee Members have expressed great concern over the attempts to weaken oversight and enforcement power of the Consumer Financial Protection Bureau and the important role it plays regarding the integrity of student loan finance services.”
- Ranking Member Bobby Scott (D-VA),
“H.R. 10 is a sprawling piece of legislation that would destroy key financial regulations and consumer protections put in place by Dodd-Frank.”
- Ranking Member John Conyers Jr. (D-MI),
To view the full letter from Ranking Member Cummings, click here.