FOR IMMEDIATE RELEASE
Monday, July 20, 2020
Contact: Pamela Russell at 202-618-6433 or prussell@bettermarkets.com
Washington, D.C. – Better Markets will release two new reports on Tuesday, July 21, on the 10-year anniversary of the signing of the Dodd-Frank and Financial Reform Act. The reports are being released during a virtual conference, Ten Years After Dodd-Frank, that it is co-sponsoring with George Washington University Law School’s Business and Finance Law Program on Tuesday, July 21, with speakers including President Barack Obama, Sen. Elizabeth Warren, former Sen. Chris Dodd and former Rep. Barney Frank, among others. The event is open to the public and registration is free, but you must register to attend.
Dennis Kelleher, president and CEO of Better Markets, issued the following statement about the two reports:
“As the country faces social upheaval, political unrest and economic turmoil, it is important to discuss and reflect on the Dodd-Frank Act because financial stability, financial reform and financial rules are the means to achieve some of the country’s most important social, political and economic goals. Foremost among those goals is to transform a financial system that is too often a wealth-extraction mechanism for the few into a wealth-creation system for the many.
“Ten Years of Dodd-Frank & Financial Reform: Obama’s Successes, Trump’s Rollbacks & Future Challenges“ explores the consideration, passage and implementation of the historic financial reform law. The report highlights the dangerous weakening of the law during the Trump administration and shares ideas many are raising about what comes next for financial reform—beyond the Dodd-Frank Act.
“President Obama in His Own Words: Making Financial Reform a Reality 2009-2016“ reviews all of the statements and speeches made by the President during his administration related to his fight for financial reform, including those related to the unrelenting industry and political opposition. The challenges, frustrations and importance in fighting for, passing and implementing the most sweeping financial reform law since the Great Depression come through loud and clear.
“These reports are stark reminders of what was at stake then and what is still at stake today in financial reform. Unfortunately, too many in the financial industry, led by Wall Street’s too-big-to-fail banks, are still working to weaken and gut the Dodd-Frank Act. These reports make clear the importance of the Dodd-Frank Act and why we must remain vigilant and prevent additional rollbacks that threaten Main Street families’ jobs, homes, savings and so much more.”
###
Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.
