“Protecting the Progress We’ve Made with Wall Street Reform”
From the White House weblog:
In this week’s address, Senator Elizabeth Warren joined President Obama to discuss how far we’ve come since the financial crisis, when the recklessness of Wall Street caused millions of Americans to lose their jobs, homes, and savings. Senator Warren underscored the importance of the Wall Street reforms the President signed into law, which included the strongest consumer protections in generations. In addition to making the financial system safer and more resilient, these reforms also established the first-ever Consumer Financial Protection Bureau (CFPB), which holds banks, credit card companies, mortgage lenders, and others accountable, and protects consumers from abuses and deceptive practices. This past Thursday, July 21, marked six years since the President signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law and the five year anniversary of the creation of the CFPB. Thanks to these reforms, the President reiterated the economy is stronger and more durable today than it was before the crisis. That’s why President Obama is going to keep fighting to protect the progress we’ve made reforming Wall Street from attacks, because hard-working Americans who play by the rules should expect Wall Street to play by the rules, too.
Click below to listen to the audio only:
Transcript after the break.