Financial Services Committee Chair Jeb Hensarling (R-TX) stated that "[i]nstead of ending 'too big to fail,' Dodd-Frank has created 'too small to succeed.'" In a statement issued on the 6th anniversary of the passage of the Dodd-Frank Act, he promoted the recently proposed Financial CHOICE Act, which he maintained is a superior alternative to Dodd-Frank. Chair Hensarling stated:
Only Washington would claim Dodd-Frank is "Wall Street reform." Dodd-Frank includes a taxpayer-funded bailout scheme for banks designated "too big to fail." It gives big banks an advantage over small ones that can't keep up with the size, cost and complexity of all its regulations.
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