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November 2, 2015

Better Markets Statement Ahead of House Financial Services Committee Markup on Bills to Gut Financial Reform

FOR IMMEDIATE RELEASE
Monday, November 2, 2015
Contact: Jeff Gohringer, 202-618-6430 or jgohringer@bettermarkets.com

Better Markets Statement Ahead of House Financial Services Committee Markup on Bills to Gut Financial Reform
**Click here to view the letter and fact sheets send to members of the committee**

Washington, DC — Dennis Kelleher, President and CEO of Better Markets, issued the following statement ahead of the House Financial Services Committee mark-up tomorrow of several bills that gut financial reform, including threatening to eviscerate the Financial Stability Oversight Council (FSOC), one of the most important institutions established by the Dodd-Frank Wall Street Reform and Consumer Protection Act:

“The bills being considered by the Financial Services Committee will gut financial reform, unleash Wall Street’s too-big-to-fail megabanks and put Main Street jobs, homes and savings at risk of another financial crash, as we detailed in a letter and two fact sheets sent to the House Financial Services Committee. A number of the bills would cripple the work of the Financial Stability Oversight Council by subjecting it to procedural requirements that make it unworkable. The financial reform law is just five years old. This is no time to start rolling back the safeguards that are protecting the American people from a repeat of the 2008 financial crash. We encourage members of the Committee to consider the impacts that these bills will have on the financial stability of the United States and on the jobs, homes and savings of hard-working Americans on Main Street.”

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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.

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