Pelosi Statement on Markup of House GOP Bill to Roll Back Wall Street Reforms

Contact: Drew Hammill/Caroline Behringer, 202-226-7616

Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement after the House Financial Services Committee held a markup on the so-called “Financial Choice Act,” a bill that would eviscerate the Dodd-Frank Act’s historic Wall Street and consumer protection reforms. House Democrats on the Financial Services Committee were unanimous in opposition to the bill.

“Once again, House Republicans are choosing to spend their time stacking the deck for the special interests and against hard-working American families. Instead of creating good-paying jobs and raising wages, Republicans are trying to gut vital consumer and investor protections to help the Wall Street special interests that sent us into the worst financial crisis since the Great Depression.

“Eight years ago, Republicans’ trickle down agenda and deregulatory spree ignited the financial crisis that shattered our economy and caused more than eight million Americans to lose their jobs. Now, Republicans want to take us back to the very same failed policies that wreaked havoc on the economic and retirement security of millions of hard-working American families.

“The American people do not subscribe to House Republicans’ plan for a Wall Street where our watchdogs are weakened and special interests are empowered. Instead of pushing their toxic, trickle down agenda, Republicans should join Democrats in fighting for a stronger America and an economy that works for everyone.”

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