Last Thursday, the U.S. House of Representatives voted to pass H.R. 10, the Financial CHOICE Act, on a 233-186 vote. This bill would repeal certain provisions of the 2010 Dodd-Frank legislation, which was put in place to prevent a banking collapse similar to what occurred during the 2008 financial crisis. Some of the provisions subject to repeal are those that safeguard investors’ access to information and research necessary to hold management and boards of public companies accountable.

PERA sent a letter to each member of Colorado’s federal congressional delegation urging a no vote on the legislation.

The bill now heads to the Senate.

Rep. Scott Tipton (R-CO-03) is a cosponsor of the legislation.

For further details on H.R. 10, read the letter PERA sent to Representatives DeGette, Polis, Tipton, Buck, Lamborn, Coffman, and Perlmutter here.