On May 8, the House Financial Services Committee passed a revised version of the Financial CHOICE Act on a partisan vote of 34-26. The bill would roll back several key provisions of the 2010 Dodd-Frank financial regulation law, including a revocation of the Financial Stability Oversight Panel’s authority to identify and regulate systemically important financial institutions. It would also impose new restrictions on the Federal Reserve’s lending operations and overhaul the structure and authority of the Consumer Financial Protection Bureau (CFPB), which was created by the Dodd-Frank law to protect consumers from fraudulent and predatory financial products. The bill is expected to come to a full vote in the House soon.
House Committee Approves Broad Financial Regulatory Changes
Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state. View all posts by Oklahoma Coalition for Affordable Housing
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