Replacing Dodd-Frank: The Financial CHOICE Act

On June 6, 2016, House Financial Services Committee Chairman Jeb Hensarling (R-TX) unveiled his plan to repeal most of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. His legislation, entitled the Financial CHOICE (Creating Hope and Opportunity for Investors, Consumers, and Entrepreneurs) Act, is a significant, positive step toward repealing Dodd-Frank and restoring economic stability and growth to the financial and housing markets.

Briefs

Replacing Dodd-Frank: The Financial CHOICE Act

Background: In response to the financial crisis of 2007-08 and the Great Recession, Congress rushed through Dodd-Frank under the guise of “consumer protection.” This law…

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Blog posts

Dismantling Dodd-Frank: How Congress Can Begin to Restore Financial Security

By Norbert Michel, Heritage Foundation Financial Regulations Expert President-elect Donald Trump campaigned on the promise of dismantling Dodd-Frank, and now Senate Democrats are pretty much…

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Significant Policy Changes Possible under a Donald Trump Presidency

With the election of Donald Trump to the Presidency along with Republican majorities in both chambers of Congress, significant and positive policy changes could be…

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How Congress Should Capitalize on the CFPB Being Ruled Unconstitutional

Earlier this month, the U.S. Court of Appeals for the D.C. Circuit ruled that the Consumer Financial Protection Bureau’s (CFPB) structure violates the Constitution’s separation…

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Video: Norbert Michel Argues the Case Against Dodd-Frank on Mortgage Shots

Heritage Foundation Financial Regulations Expert Norbert Michel sits down with Brian Stevens of Mortgage Shots to discuss why Congress should repeal Dodd-Frank. Watch the interview above…

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Real Estate Professional Sentinel Strategy Call 10/12/16

Last week, conservative real estate professionals from across the country joined together for our monthly Heritage Action Sentinel Strategy call. During the call we discussed…

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One Year Anniversary of TRID: Realtors and Lenders Still Having Trouble

October 3rd marked the one year anniversary of the Consumer Financial Protection Bureau’s rocky implementation of their 1,800-page TILA-RESPA Integrated Disclosure (TRID) or “Know Before…

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Court Ruling Reins in Unaccountable Financial Regulation Agency

By Diane Katz, Research Fellow in Regulatory Policy at The Heritage Foundation The very first line of today’s court ruling in PHH Corporation v. Consumer…

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PHH vs. CFPB

By Gloria Taylor The regulatory behemoth created by Dodd-Frank, the Consumer Financial Protection Bureau (CFPB), could be in hot water as the D.C. Circuit Court…

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Opponents of CHOICE Act Aren’t Interested in Protecting Consumers

By Norbert Michel, Heritage Foundation Financial Regulations Expert On Tuesday, Sept. 13, the House Financial Services Committee passed the Financial CHOICE Act. Among other needed…

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Heritage Action Supports Hensarling’s Financial CHOICE Act (H.R. 5983)

In response to the housing collapse and financial crisis of 2007-08, Congress rushed to pass the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act…

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CFPB Faster to Regulate than Other Federal Agencies

The Consumer Financial Protection Bureau’s (CFPB) median pace of creating new regulations is 3.5 times faster than that of significant executive agencies. This revelation, coming…

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Clinton’s Small Business Plan is More Government

Democrat presidential nominee Hillary Clinton will roll out her plan to make American small businesses great again, or in her words: “to support small businesses…

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White House in Denial of Dodd-Frank’s Negative Impact on Small Banks

In the six years since Dodd-Frank was implemented, community banks have been choked by overbearing federal regulations, causing many banks to close their doors. The…

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Real Estate Professional Sentinel Strategy Call 08/10/16

Yesterday, conservative real estate professionals from across the country joined together for our second Heritage Action monthly sentinel strategy call. During the call we discussed…

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CFPB Announces Slight Changes to “Know Before you Owe” Rule

On July 29th, the Consumer Financial Protection Bureau (CFPB) publicly announced changes to its problematic TRID or “Know Before you Owe” rule after issuing a…

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Sentinel Real Estate Professionals CFPB Letter on TRID and Dodd-Frank Reform

Heritage Action Sentinel Real Estate Professionals sent a letter to the Consumer Financial Protection Bureau (CFPB) calling on the bureau to reform its costly and…

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Dodd-Frank Cost $36 Billion, 73 Million in Paperwork Hours

A recent report from the American Action Forum (AAF) shows that total regulatory cost from the Dodd-Frank Act of 2010 now exceeds $36 billion. This…

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Special Interests Should not Stand in the way of Dodd-Frank Reform

This week marks the six year anniversary since the Dodd-Frank Act was signed into law by President Obama, but instead of addressing the major causes…

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Dodd-Frank Replacement Bill would Transform CFPB

With the passage of the Dodd-Frank Act in 2010, one of the most unaccountable federal agencies in American history was created. Title X of Dodd-Frank…

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With Dodd-Frank Reform, Community Banks Could Make a Comeback

Since the passage of the Dodd-Frank Act in 2010, almost no new banks have opened. The number of smaller community banks, with assets under $10…

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