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July 20, 2015

On Eve of Anniversary, Treasury's Lew Defends Dodd-Frank Act

“Treasury Secretary Jack Lew said Monday that the Obama administration will continue to defend the Dodd-Frank Act amid Republican efforts to water down the law, even as one of its namesakes suggested changes to it may be necessary.

“We have seen attempts to roll back key safeguards by slipping complex provisions into unrelated bills,” Lew said in remarks at an event sponsored by the reform advocacy group Better Markets commemorating the fifth anniversary of the legislation.

“This tactic of using riders on must-pass legislation to chip away at crucial financial reforms is unacceptable. Faced with bills that threaten to turn the clock back to 2008 and leave the American people vulnerable to another crippling crisis, I will recommend the President veto them.”

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Read the full American Banker article by Ian McKendry here

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