Pelosi Statement on Republican Efforts to Undermine Wall Street Reform

Contact: Drew Hammill, 202-226-7616

Washington, D.C. – Democratic Leader Nancy Pelosi today released the following statement after House Republicans passed legislation to undermine Wall Street Reform by delaying implementation of the Volcker Rule, which prohibits large banks from risky gambling with taxpayer-backed funds. The bill passed 271-154.

"The American people expect – and deserve – a government that works for them. Yet, mere days into the new Congress, House Republicans have not put forth a single bill that advances the interests of the middle class. Instead, day after day, Republicans have rushed through giveaways to big banks and to their special interest friends.

"The Wall Street giveaway passed today chips away at the Volcker Rule, a critical part of the Wall Street reform law that protects Americans against the risky practices of some on Wall Street that just a few years ago brought our country to the brink of economic collapse. Enough is enough: the interests of big banks should not trump those of American families that still struggle to make ends meet.

"Congress has a moral responsibility to stand for working families, not just the privileged few. House Democrats are fighting to put the middle class first – and will continue to fight for and promote policies that bring bigger paychecks and better infrastructure to hardworking American families."

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