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H.R. 10 (115th): Financial CHOICE Act of 2017

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About the bill

This bill would make sweeping changes to the financial regulatory system by revising the changes that were put in place after the 2008-2009 economic crash. The bill would weaken the Consumer Financial Protection Bureau, the Financial Stability Oversight Council, and regulations that prevent commercial banks from trading for their own gain, among other changes. See this New York Times summary for more details.

Sponsor and status

Jeb Hensarling

Sponsor. Representative for Texas's 5th congressional district. Republican.

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Last Updated: Jun 13, 2017
Length: 600 pages
Introduced
Apr 26, 2017
115th Congress (2017–2019)
Status
Died in a previous Congress

This bill was introduced in a previous session of Congress and was passed by the House on June 8, 2017 but was never passed by the Senate. Provisions of this bill were incorporated into other bills.

Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).

Provisions of this bill also appear in:

S. 327: Fair Access to Investment Research Act of 2017
Enacted — Signed by the President on Oct 6, 2017. (compare text)
Cosponsors

40 Cosponsors (40 Republicans)

Source

Position statements

Statement of Administration Policy

President Donald Trump [R, 2017-2021]: Substitute Amendment to H.R. 10 – Financial CHOICE Act of 2017 (Jun 6, 2017)

What legislators are saying

Zeldin: The right CHOICE for the Long Island economy
    — Rep. Lee Zeldin [R-NY1] (Co-sponsor) on Jun 21, 2017

Walker Votes to Provide Relief for Local Banks and Job Creators in Our Communities
    — Rep. Mark Walker [R-NC6, 2015-2020] (Co-sponsor) on May 22, 2018

Quigley Statement on Financial Services Subcommittee Bill & Markup
    — Rep. Mike Quigley [D-IL5] on Jun 29, 2017

More statements at ProPublica Represent...

What stakeholders are saying

R Street Institute SpendingTracker.org estimates H.R. 10 will save $19.2 billion through 2027.
R Street Institute SpendingTracker.org estimates H.R. 10 will save $19.2 billion through 2027.

History

Apr 26, 2017
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

May 2, 2017
 
Considered by House Committee on Financial Services

A committee held a hearing or business meeting about the bill.

May 4, 2017
 
Ordered Reported

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

Jun 8, 2017
 
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next.

H.R. 10 (115th) was 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.

Bills numbers restart every two years. That means there are other bills with the number H.R. 10. This is the one from the 115th Congress.

This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not passed by the end of a Congress is cleared from the books.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 10 — 115th Congress: Financial CHOICE Act of 2017.” www.GovTrack.us. 2017. December 5, 2021 <https://www.govtrack.us/congress/bills/115/hr10>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.