Pelosi Statement on GOP Efforts to Dismantle Wall Street Reform

Contact: Nadeam Elshami/Drew Hammill, 202-226-7616
Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement today on Republican efforts to dismantle the Dodd–Frank Wall Street Reform and Consumer Protection Act:

“This week, House Republicans are taking action that will put American workers and middle class families at risk by rolling back the powers of the ‘cops on the beat’ who work to curb abuses and prevent speculation in oil markets. Republicans are also seeking to prevent the Consumer Financial Protection Agency from fulfilling its function of protecting consumers and helping prevent millions of American families from falling victim to anti-consumer and predatory practices.

“As American families struggle with high gas prices, we need to do more, not less, to lower the cost of energy, but House Republicans are working to dismantle the protections that are bringing transparency and accountability to Wall Street.

“Democrats made a commitment: to stand with consumers on behalf of strong reforms and effective vigilance of Wall Street to prevent another financial crisis on Main Street. And that is why we will oppose all Republican efforts to return our nation to the days when the risky behavior of some threatened the financial stability of our families, small businesses, and our economy. House Republicans want to weaken the historic consumer protections of the Dodd-Frank Wall Street Reform and Consumer Protection Act. But the American people deserve better.”