Published: May 2017

The CHOICE Act is WRONG for Americans and the economy

A bill being considered by the House, the Financial CHOICE Act, or more-aptly called “WRONG CHOICE Act” (H.R. 10) would eviscerate post Great Recession safeguards, including most of the Dodd-Frank Wall Street Reform and Consumer Protection Act, putting the U.S. economy and taxpayers in the same perilous position as prior to the financial crisis.

Dodd-Frank passed in the wake of the devastating financial crisis that cost 8.7 million jobs, $19 trillion in wealth and almost 10 million homes, putting into place consumer and financial stability safeguards to check Wall Street of its greed and to protect consumers. The Financial CHOICE Act (H.R. 10), would eviscerate these safeguards, including the consumer watchdog agency, the Consumer Financial Protection Bureau, putting the U.S. economy and taxpayers in danger of another financial collapse.

Other Organizations

Americans for Financial Reform | Baltimore Neighborhoods Inc. | California Reinvestment Coalition | Center for NYC Neighborhoods | Center for Popular Democracy | Connecticut Fair Housing Center | Consumer Action | Consumers Union | Consumer Federation of America | Demos | MFY Legal Services Inc. | NAACP | National Association of Consumer Advocates | National Consumer Law Center (on behalf of its low income clients) | National Consumers League | National Fair Housing Alliance | Privacy Rights Clearinghouse | U.S. PIRG | Woodstock Institute

More Information

Click here to read the full coalition letter.

For more information, visit NCRC.

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