Hoyer Statement on the Fifth Anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act

WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today on the fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act:

“Five years ago, the Democratic-led Congress and President Obama successfully took action, over strong Republican opposition, to address many of the problems that led to the financial crisis in 2008 and the deepest recession in a generation. Today, Wall Street is being held more accountable while consumers are protected from misleading and abusive lending practices.  The Dodd-Frank Wall Street Reform and Consumer Protection Act safeguards Americans from the kind of reckless gambling that took place in our financial markets in the years leading up to the near-collapse of our financial system – and which led to the loss of millions of jobs and weakened our economy. 

“We must not let a crisis like that happen again, and it is up to Democrats and Republicans to work together to build on the reforms of Dodd-Frank, not take them apart piece by piece, as many Republicans have said they would do.  House Democrats will continue to stand with American workers and average investors to make certain that our financial markets are the safest in the world while supporting private sector growth and opportunity for our middle class.”