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Ellison Praises Senate Vote on Historic Wall Street Reform

Statement

Date: July 16, 2010
Location: Washington, DC
Issues: Business and Consumers Finance and Banking

Congressman Keith Ellison (D-MN) released the following statement about the Dodd-Frank bill that will now go to President Obama for his signature:

This historic legislation is a victory for American consumers. Regulatory reform means policing Wall Street and protecting working families.

The Wall Street Reform bill ends "too big to fail' companies and protects consumers from deceptive practices, hidden fees, and abusive, predatory lending terms.

Almost two years after the financial meltdown, Wall Street firms, largely responsible for the worst economic downturn since the Great Depression, are still operating under the same flawed rules that cost 8 million American jobs.

This legislation is a historic step toward modernizing financial regulations and putting the interests of working families above Wall Street executives.


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