Treasury Secretary Mnuchin Supports Financial CHOICE Act

HousingWire writes that Treasury Secretary Steven Mnuchin issued a statement of support for the Financial CHOICE Act (H.R. 10), which was introduced on Wednesday, April 26 by Chairman Jeb Hensarling (R-TX) of the House Financial Services Committee. "As Secretary, I am committed to policies that will ensure sustained economic growth that is driven by Main Street and not held back by Washington," Mnuchin said in the statement. "I applaud the steady commitment and leadership that Chairman Hensarling and his colleagues have provided on these issues, and welcome the reintroduction of the CHOICE Act," Mnuchin concluded. "While I continue my work to implement the President's executive order setting the core principles for financial regulation, I look forward to working with Congress to both support and strengthen our financial system and safeguard taxpayers."

On the morning of Thursday, May 4th, the Financial Services Committee voted 34-26 along party lines to approve H.R. 10, following a contentious multi-day markup session. The legislation now awaits consideration by the full House of Representatives.

SFIG remains engaged with both chambers on Capitol Hill in these reform efforts, and will continue to discuss our regulatory priorities with those key committees of jurisdiction. These activities come as we work with the various regulatory agencies in the new Administration to identify laws and regulations in need of reform.

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