Financial CHOICE Act, rolling back Dodd-Frank regulations, passes the House

Financial CHOICE Act, Rolling Back Dodd-Frank Regulations, Passes The House

Remember when the Consumer Financial Protection Bureau (CFPB) fined Wells Fargo $185 million for creating unapproved customer accounts to meet sales quotas last September? Under new legislation passed by the United States House of Representatives yesterday — the Financial CHOICE (Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs) Act — the CFPB’s power to regulate and fine the financial industry would be curtailed signifi…