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House Financial Services Committee Chairman Unveils Regulatory Relief Plan

House Financial Services Committee Chairman Jeb Hensarling (R-TX-05) today unveiled the Financial CHOICE Act, a bold regulatory relief plan. The proposed plan offers what Hensarling has called an “off ramp” option for banks, a separate regulatory framework, in return for maintaining higher capital levels. The bold plan also offers relief from numerous other regulatory burdens.

The CHOICE Act contains many provisions inspired by the Independent Community Bankers of America (ICBA) Plan for Prosperity. These provisions would reform the Consumer Financial Protection Bureau, ease mortgage rules on portfolio loans, require tailored banking regulations, and create a workable exam appeals process. ICBA and CBAI agree that this plan provides a welcome opportunity to advance community bank regulatory relief. Read More from Chairman Hensarling.

June 7, 2016