The U.S. House of Representatives recently passed the Financial CHOICE Act, earning praise from Americans for Prosperity (AFP) for what is says are strides toward creating government accountability.
The action sponsored by Financial Services Committee Chairman Rep. Jeb Hensarling (R-Texas) creates more transparency for the Consumer Financial Protection Bureau (CFPB), the regulatory agency responsible for overseeing financial products and services nationwide, according to an AFP press release.
“It’s encouraging to see the House take positive action to fix our country’s broken banking laws,” Christine Harbin, AFP’s vice president of external affairs, said in the release.
Harbin said that the Financial CHOICE Act would allow families and financial organizations greater flexibility in accessing resources.
“The Financial CHOICE Act is an important banking reform bill … bringing meaningful relief to consumers and small businesses,” Harbin said. “The CHOICE Act also brings desperately needed oversight to federal banking agencies like the CFPB.”
Harbin said that AFP looks forward to working with the Senate as the bill advances.
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