The House Financial Services Committee’s (HFSC) worked on the Financial Choice Act (“Choice Act 2.0”) in April, based on an earlier version from the last Congress (Choice Act 1.0). As often is the case in Washington, what is true today may not be tomorrow, and the landscape for financial reform has — not surprisingly — changed once more. I expect it will change several more times before — or if — we see any Dodd Frank reforms, but for now, a latest version of Choice Act 2.0 (“New 2.0”) suggests the HFSC is considering a simpler and broader approach.
