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Why one Republican voted against the CHOICE Act

Joe Mont | June 14, 2017

We recently wrote about the “party-line” passage of the Financial CHOICE Act, a ‘repeal and replace” attack on the Dodd-Frank Act in the House of Representatives. What we initially overlooked was that the 233–186 wasn’t neatly divided along parties.

Rep. Walter Jones (R-N.C.) was the sole Republican who voted against the legislation. In a statement, he said that the bill, should it become law, would “harm America’s service members.”

Of particular concern, Jones said, were provisions in the bill that would remove the Consumer Financial Protection Bureau’s ability to regulate small-dollar loans, like payday loans, despite evidence of pervasive predatory practices focused on service members. 

Earlier this month, national veterans and active duty service organizations...

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