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Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) released the following statement announcing that the House will consider H.R. 10, the Financial CHOICE Act, next week:

“The House will vote on the Financial CHOICE Act next week. This bill does a lot to grow the economy, but perhaps most importantly it revives the role community banks can play in getting small businesses and new ideas off the ground. Since its inception, Dodd-Frank has strangled community banks with red tape and needless compliance costs. In fact, approximately 1,900 banks, many of which were community financial institutions, have disappeared since Dodd-Frank became law. Whether you are opening a sandwich shop or looking to make improvements on your house, your access to capital shouldn’t rest in the hands of just a few big banks. Chairman Jeb Hensarling (TX-05) and the Financial Services Committee have put forth a good bill that will revive our community banks by removing burdens that prevent lending, decreasing compliance costs, and improving their access to credit and capital. Growing our economy starts with growing our communities, and for generations local banks have led the way in community investment.”