Financial CHOICE Act of 2017
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act, among other Acts, to:
Certain banks may exempt themselves from specified regulatory standards if they maintain a certain ratio of capital to total assets and meet other specified requirements.
The bill removes the Financial Stability Oversight Council's authority to designate non-bank financial institutions and financial market utilities as "systemically important" (also known as "too big to fail"). Under current law, entities so designated are subject to additional regulatory restrictions. Designations made previously are retroactively repealed.
The bill also amends the Consumer Financial Protection Act of 2010 to:
In addition, the bill:
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2017-07-13 | Committee | Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108. | Senate |
| 2017-06-13 | IntroReferral | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate |
| 2017-06-12 | IntroReferral | Received in the Senate. | Senate |
| 2017-06-08 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2017-06-08 | Vote | On passage Passed by the Yeas and Nays: 233 - 186 (Roll no. 299). | House floor actions |
| 2017-06-08 | Floor | The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text of amendment in the nature of a substitute: CR H4731-4789) | House floor actions |
| 2017-06-08 | Floor | The previous question was ordered pursuant to the rule. (consideration: CR H4801) | House floor actions |
| 2017-06-08 | Floor | The House rose from the Committee of the Whole House on the state of the Union to report H.R. 10. | House floor actions |
| 2017-06-08 | Floor | UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question on adoption of amendments which had been debated earlier and on which further proceedings had been postponed. | House floor actions |
| 2017-06-08 | Floor | POSTPONED PROCEEDINGS - At the conclusion of debate on the Buck amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the ayes had prevailed. Mr. Ellison demanded a recorded vote and the Chair postponed further proceedings on adoption of the amendment until later in the legislative day. | House floor actions |
| 2017-06-08 | Floor | DEBATE - Pursuant to the provisions of H. Res. 375, the Committee of the Whole proceeded with 10 minutes of debate on the Buck Part B amendment No. 6. | House floor actions |
| 2017-06-08 | Floor | DEBATE - Pursuant to the provisions of H. Res. 375, the Committee of the Whole proceeded with 10 minutes of debate on the McSally Part B amendment No. 5. | House floor actions |
| 2017-06-08 | Floor | POSTPONED PROCEEDINGS - At the conclusion of debate on the Faso amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the ayes had prevailed. Mr. Ellison demanded a recorded vote and the Chair postponed further proceedings on adoption of the amendment until later in the legislative day. | House floor actions |
| 2017-06-08 | Floor | DEBATE - Pursuant to the provisions of H. Res. 375, the Committee of the Whole proceeded with 10 minutes of debate on the Faso Part B amendment No. 4. | House floor actions |
| 2017-06-08 | Floor | DEBATE - Pursuant to the provisions of H. Res. 375, the Committee of the Whole proceeded with 10 minutes of debate on the Smucker Part B amendment No. 3. | House floor actions |
| 2017-06-08 | Floor | POSTPONED PROCEEDINGS - At the conclusion of debate on the Hollingsworth amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the ayes had prevailed. Mr. Ellison demanded a recorded vote and the Chair postponed further proceedings on adoption of the amendment until later in the legislative day. | House floor actions |
| 2017-06-08 | Floor | DEBATE - Pursuant to the provisions of H. Res. 375, the Committee of the Whole proceeded with 10 minutes of debate on the Hollingsworth Part B amendment No. 2. | House floor actions |
| 2017-06-08 | Floor | POSTPONED PROCEEDINGS - At the conclusion of debate on the Hensarling amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the ayes had prevailed. Mr. Ellison demanded a recorded vote and the Chair postponed further proceedings on adoption of the amendment until later in the legislative day. | House floor actions |
| 2017-06-08 | Floor | DEBATE - Pursuant to the provisions of H. Res. 375, the Committee of the Whole proceeded with 10 minutes of debate on the Hensarling Part B amendment No. 1. | House floor actions |
| 2017-06-08 | Floor | GENERAL DEBATE - The Committee of the Whole proceeded with ninety minutes of general debate on H.R. 10. | House floor actions |
| 2017-06-08 | Floor | House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 375 and Rule XVIII. | House floor actions |
| 2017-06-08 | Floor | The Speaker designated the Honorable Steve Womack to act as Chairman of the Committee. | House floor actions |
| 2017-06-08 | Floor | Rule provides for consideration of H.R. 10 with 1 hour and 30 minutes of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. | House floor actions |
| 2017-06-08 | Floor | Considered under the provisions of rule H. Res. 375. (consideration: CR H4716-4802) | House floor actions |
| 2017-06-07 | Floor | Rule H. Res. 375 passed House. | House floor actions |
| 2017-06-06 | Floor | Rules Committee Resolution H. Res. 375 Reported to House. Rule provides for consideration of H.R. 10 with 1 hour and 30 minutes of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. | House floor actions |
| 2017-06-02 | Committee | Supplemental report filed by the Committee on Financial Services, H. Rept. 115-153, Part II. | House floor actions |
| 2017-05-25 | Calendars | Placed on the Union Calendar, Calendar No. 100. | House floor actions |
| 2017-05-25 | Discharge | Committee on Education and the Workforce discharged. | House floor actions |
| 2017-05-25 | Discharge | Committee on the Budget discharged. | House floor actions |
| 2017-05-25 | Discharge | Committee on Rules discharged. | House floor actions |
| 2017-05-25 | Discharge | Committee on Transportation discharged. | House floor actions |
| 2017-05-25 | Discharge | Committee on Oversight and Government discharged. | House floor actions |
| 2017-05-25 | Discharge | Committee on the Judiciary discharged. | House floor actions |
| 2017-05-25 | Discharge | Committee on Ways and Means discharged. | House floor actions |
| 2017-05-25 | Discharge | Committee on Agriculture discharged. | House floor actions |
| 2017-05-25 | Committee | Reported (Amended) by the Committee on Financial Services. H. Rept. 115-153, Part I. | House floor actions |
| 2017-05-04 | Committee | Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. | House committee actions |
| 2017-05-04 | Committee | Ordered to be Reported (Amended) by the Yeas and Nays: 34 - 26. | House committee actions |
| 2017-05-04 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2017-05-03 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2017-05-02 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2017-04-27 | Committee | Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management. | House committee actions |
| 2017-04-26 | Committee | Committee Hearings Held. | House committee actions |
| 2017-04-26 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2017-04-26 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2017-04-26 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2017-04-26 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2017-04-26 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2017-04-26 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2017-04-26 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2017-04-26 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2017-04-26 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2017-04-26 | IntroReferral | Introduced in House | Library of Congress |