Financial Reform
Financial Reform The recent recession was caused in part by a failure to properly regulate our nation’s financial system. Millions of Americans, including thousands of folks in our district, are still struggling because of the reckless actions of Wall Street executives and big banks. Our ongoing economic recovery depends on common-sense rules to ensure these financial institutions cannot jeopardize our recovery and hurt hard working families and small-businesses once again. Last year, Congress passed and the president signed the Dodd-Frank Wall Street Reform and Consumer Protection Act – landmark legislation that will crack down on the big banks, protect consumers, and bring greater economic security to families and small businesses across our country. This law put in place the strongest consumer protections in history, with an independent watchdog whose sole job is to enforce these protections and look out for the American consumer. Specifically, the law: For all its strengths, the Dodd-Frank Wall Street Reform and Consumer Protection Act is still far from perfect. I would have liked to see stronger rules to prevent banks from becoming “too big to fail” and other protections for average Americans. However, this law does take a big step forward in safeguarding against future bank bailouts. As we continue to work to implement this landmark legislation, please be assured that I will continue to advocate for strong consumer protections and also reasonable regulations that do not stifle economic growth or access to credit Related Documents:
News Articles -
Vallejo Times-Herald – Reps. Miller, Thompson fighting for principal writedowns for struggling homeowners in Napa, Solano counties
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