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House Financial Services Chairman Jeb Hensarling said this week he anticipates his "Financial CHOICE Act" (H.R. 5983) will have a full House vote after the presidential election in November.

Speaking at a Securities Industry and Financial Markets Association conference, Hensarling noted that, while President Barack Obama is unlikely to sign the bill into law, Republican presidential candidate Donald Trump supports the bill.

A Republican alternative to the Dodd-Frank Act that was passed by Hensarling's committee earlier this month, the "CHOICE Act" now awaits House action. NAFCU has praised many of the bill's initiatives for credit union regulatory relief and strongly supports its proposed repeal of the Durbin amendment.

Speaking at a reception held in conjunction with NAFCU's Congressional Caucus last week, Hensarling said he wants to continue to work with credit unions to address concerns they might have with the bill. He also noted his concern that roughly one community financial institution is lost per day due to regulatory overburden.