The Financial Services and General Government (FSGG) Appropriations Act of 2018, which is currently being considered in the US House of Representatives Committee on Appropriations, would roll back important consumer protections and undermine the ability of crucial agencies to fulfill their missions of protecting consumers. CFA opposes the FSGG bill, which incorporates many provisions of H.R. 10, the Financial CHOICE Act, which CFA also vigorously opposes. The CHOICE Act is, by and large, a deregulatory wish-list from special interests that repeals many of the significant achievements in the Dodd-Frank Act and other critical laws designed to ensure consumers, investors, and honest market participants are appropriately protected from harm in the marketplace. Without such protections, consumers and investors will be exposed to greater risk of being harmed in concrete ways and the financial system will be exposed to greater risk of instability and crises.
