H.R. 5983: Financial CHOICE Act of 2016

Introduced:

Sep 9, 2016

Status:

Reported by Committee on Sep 13, 2016

The committees assigned to this bill sent it to the House or Senate as a whole for consideration on September 13, 2016.

Sponsor:

Jeb Hensarling

Representative for Texas's 5th congressional district

Republican

Text:

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Last Updated: Sep 9, 2016
Length: 513 pages

Prognosis:

31% chance of being enacted (details)

About the bill

Full Title

To create hope and opportunity for consumers, investors, and entrepreneurs by ending bailouts and Too Big to Fail, holding Washington and Wall Street accountable, eliminating red tape to increase access to capital and credit, and repealing the provisions of the Dodd-Frank Act that make America less prosperous, less stable, and less free, and for other purposes.

The bill’s titles are written by its sponsor.

Summary

Shortly after the Great Recession of 2008, the worst economic hit since the Great Depression, a newly-elected President Obama worked with a Democratic-controlled Congress to craft and pass a financial services reform bill: the Dodd-Frank Wall Street Reform and Protection Act. Dodd-Frank aimed to “reign in” the behavior of the big banks that Democrats believed caused the financial crisis. It ...

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History

Sep 9, 2016
 
Introduced

This is the first step in the legislative process.

Sep 13, 2016
 
Reported by Committee

A committee has issued a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

 
Passed House

 
Passed Senate

 
Signed by the President

This page is about a bill in the United States Congress. A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Links & tools

Primary Source

Congress.gov

Congress.gov is updated generally one day after events occur. Legislative activity since the last update may not be reflected on GovTrack. Data via congress project.

Citation

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