Congressman Sherman Responds to Passage of the Wrong CHOICE Act

Washington, D.C. – Congressman Brad Sherman (D-CA), a senior member of the House Financial Services Committee, released the following statement in response to the House of Representatives passage of the CHOICE Act:

The Republican Financial CHOICE Act is a highly partisan bill that guts consumer protections and will put America at risk of another economic meltdown. This bill aims to wipe out the policies Congress put in place after the 2008 financial crisis, prioritizing the profits of Wall Street over the needs of hard-working American families.

"The Financial CHOICE Act does contain some good provisions. In fact, it includes twelve bills which have passed the Committee with strong bipartisan support. Unfortunately, these twelve bills are held hostage, buried in a pharmacy of poison pills. I hope we can work in a bipartisan way to address concerns raised by our community financial institutions and improve financial regulation in this country."