The House Committee on Financial Services is set to mark up the Republican-led Financial CHOICE Act, the leading replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act, on Tuesday.
The hearing on the act last week didn’t go over well with committee Democrats, mostly leading to greater dichotomy between the parties.
Now, in the run-up to the scheduled mark-up, committee Republicans are still working in overdrive to promote the act.
Before even releasing the updated version of the Financial CHOICE Act on April 19, the original was introduced last year, committee Republicans got to work writing commentaries in their local publications to promote the new act to their constituents.
The latest move to promote the act is a 90-second video on the Financial CHOICE Act. The marketing video features a series of political clips showcasing how, to Republicans, the new act fixes the problems that came about during the financial crisis and that Dodd-Frank only made worse.
Check out the full video below from the committee’s official Twitter
#DoddFrank failed, but we have a better way. It's called the Financial #CHOICEact→ https://t.co/qxzLiHssai pic.twitter.com/i3R8l8HGIK
— Financial Services (@FinancialCmte) April 28, 2017
Here is a couple supporting tweets from Rep. French Hill, R-Ark., and Rep. Andy Barr, R-Ky.
Seven years of #DoddFrank failures captured in 90 seconds of video. https://t.co/190871WLiW
— French Hill (@RepFrenchHill) April 28, 2017
We need the Financial #CHOICEact to give more opportunity & freedom for all, to end bailouts, and to hold Wall Street accountable. https://t.co/wPDKibIYgI
— Rep. Andy Barr (@RepAndyBarr) April 28, 2017
House Financial Services Committee Chairman Jeb Hensarling, R-TX, the main leader behind the Financial CHOICE Act, also went on Fox News on Sunday to discuss the act, along with several other initiatives, saying, “They promised us that [Dodd-Frank] would lift the economy, but instead, we are mired in the slowest, weakest recovery in the post-war era.”
“They said it would end too-big-to-fail, but instead, it codified it into law,” he continued. “They said it would stabilize out financial system, but instead, under Dodd-Frank, the big banks are bigger, the small banks are fewer. They said it would help the consumer, but instead, since Dodd-Frank, we’ve seen free checking cut in half, bank fees go up, the ranks of the unbanked increase.”
“The bottom line is Dodd-Frank has failed,” he said. “I look forward to bringing [the CHOICE act] to the entire House of Representatives soon.”
A clip of the interview with Fox News’ Maria Bartiromo can be found in the tweet below.
.@RepHensarling: "We want economic growth for all. We want bank bailouts for none." #CHOICEact pic.twitter.com/ZPmRLtOSmL
— Financial Services (@FinancialCmte) May 1, 2017
