Duncan: 3rd District better off without Dodd-Frank

Congressman Jeff Duncan declares that the country and especially the South Carolina 3rd District are better off without the seven-year law that was designed to protect consumers and avert another financial catastrophe like the one in 2008.  Republican Duncan was in the majority for the House repeal of the Dodd-Frank Act and the approval of its replacement the Financial Choice Act.  The vote followed party lines.  In a statement from Washington, Duncan blamed Dodd-Frank on the anemic recovery from the recession and called it “a shameless gift to Washington and Wall Street insiders against the American people.”  Democrats, however, call the Republican-supported Financial Choice Act the “Wrong Choice Act” and say it removes referees from financial regulations.  Duncan says the Financial Choice Act “is for the community bankers and credit unions who keep the businesses open in my district….”