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Cantwell: Reform Shouldn't Prioritize Wall Street Over Consumer and Job Protections

Press Conference

Date: June 9, 2015
Location: Washington, DC
Issues: Finance and Banking

Today, U.S. Senator Maria Cantwell (D-Wash.), ranking member of the Senate Energy and Natural Resources Committee, slammed proposals to roll back the clock on consumer and job protections.

"It would seem that some in the House are more motivated to help Wall Street banks and their attorneys, who have complained that [the Federal Energy Regulatory Commission] (FERC) is just being too tough on them," Sen. Cantwell said.

The senator noted the irony in reported House opposition to reauthorizing the Export-Import Bank -- a public credit agency--while drafting legislation that would undermine FERC authority to pursue market manipulation. Since FERC's market manipulation authority was enacted in 2005, the commission has collected almost a billion dollars as a result of investigations, including settlements involving Wall Street banks and hedge funds.


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