During the three-day session, Financial Services Committee Democrats offered an amendment to strip out a provision canceling the fiduciary rule (which failed) and another to make it harder for shareholders to engage in proxy battles (which failed, too).
Hensarling claimed Dodd-Frank was more onerous than all Obama-era regulations combined.
The acronym “CHOICE” stands for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs.
Kentucky Republican Andy Barr claimed the legislation aids consumers in pursuing the American dream by giving them more choices on where and how to borrow than permitted by the Consumer Financial Protection Bureau, a Dodd-Frank creation.
New York City Democrat Carolyn Maloney, meanwhile, said the bill only opens up more wrong choices for investors by axing the fiduciary rule.