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Congressman Cleaver on GOP effort to gut Obama era financial regs

5th District Democratic Congressman Emanuel Cleaver, like Luetkemeyer, is also a member of the House Financial Services Committee. He issued a statement to Missourinet supporting Dodd-Frank.

“I am opposed to the Financial CHOICE Act. While no law is perfect, we cannot have a massive rollback of the significant protections that were put in place in the Dodd Frank Act following the financial crisis. I also believe it is important to preserve the orderly liquidation authority currently in the Dodd Frank to have the appropriate tools and knowledge-based regulators available.

Because of galvanized Democratic opposition, the CHOICE Act Luetkemeyer helped move through committee will have a tough time getting congressional approval. Republicans don’t have the votes to pass it through the Senate.