The Democrats’ CHOICE

Today, vulnerable Democrats voted against the Financial CHOICE Act, the alternative to Dodd-Frank that will end bank bailouts, toughen penalties for wrongdoing on Wall Street, promote economic growth, and provide regulatory relief for small community banks and credit unions.

Below is a list of items these vulnerable Democrats voted AGAINST in the Financial CHOICE Act:

• Holding large banks to the same market discipline as smaller banks
• Imposing the toughest penalties in history against insider trading, fraud, deception, and other offenses against consumers
• Creating greater market stability by requiring financial institutions to maintain a capital leverage ratio of at least 10 percent, higher than Dodd-Frank
• Holding the Consumer Financial Protection Bureau accountable by requiring its funding to be granted through congressional appropriations
• Requiring regulators to complete comprehensive cost-benefit analyses for new regulations

 “Today’s vote demonstrates Democrats are more concerned with protecting the status quo on Wall Street than imposing real reforms to protect American families. While Republicans continue to work on new ideas to improve the lives of everyday Americans, Democrats are putting politics ahead of their constituents.” -NRCC Spokesman Jack Pandol