Financial CHOICE Act of 2017

[AI summary unavailable — showing source text] Financial CHOICE Act of 2017 This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act, among other Acts, to: repeal Volcker Rule restrictions on certain speculative investments by banks; with respect to winding down failing banks, eliminate the Federal Deposit Insurance Corporation's orderly liquidation authority and establish new provisions regarding financial institution bankruptcy; and repeal Durbin Amendment limitations on fees that may be charged to retailers for debit card processing. Certain banks may exempt themselves from specified regulatory standards if they maintain a certain ratio of capital to total assets and meet other specified requirements. The bill removes the Financial Stability Oversight Council's authority to designate non-bank financial institutions and financial market utilities as "systemically important" (also known as "too big to fail"). Under current law, entities so designated are subject to additional regulatory restrictions. Designations made previously are retroactively repealed.  The bill also amends the Consumer Financial Protection Act of 2010 to: convert the Consumer Financial Protecti…