Heinrich Statement on President Obama Signing Wall Street Reform and Consumer Protection Act

Statement

U.S. Representative Martin Heinrich (NM-1) issued the following statement today after President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act:

"The signing of this bill marks the end of an era of turning a blind eye to unbridled greed and lack of oversight that led to our nation's financial crisis.

"Too many New Mexican consumers have been impacted by foreclosure scams, predatory lenders, excessive interest rates, and unreasonable fee hikes. The Wall Street Reform and Consumer Protection Act puts American consumers first and holds Wall Street and big banks accountable.

"We know we can't trust big banks when they tell us they will self-regulate. It is the responsibility of Congress to protect people on Main Street from criminals like Bernie Madoff and reckless companies like AIG. Wall Street reform demands accountability and responsibility in the financial industry and puts an end to taxpayer funded bailouts once and for all.

"While Republicans press on with failed policies from the Bush agenda playbook that protected big banks at the expense of America's families, Democrats continue to build a solid economic foundation for generations to come that rewards hard work and responsibility."

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