|#AceFinanceNews – WASHINGTON:July.25: I do not post these very often but just reading the headline of this weekly address, made me stop and wonder! Does the President of American ever read the news, before making these types of statements?
Anyway you the readers can have the last say – news and views please!!
In this week’s address, the President spoke to the progress we have made in making our financial system stronger, safer, and more fair in the years since financial crisis.
Five years ago this week, our country enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act — rules that have substantially reduced recklessness and abuse in our financial system that predated the crisis. As a result of Wall Street reform, our banks are less reliant on unstable funding and less likely to engage in risky behavior, the independent Consumer Financial Protection Bureau works to protect American consumers, and our financial system is significantly better-regulated.
Dodd-Frank is working, and the President emphasized that he will continue to fight any challenges to the law and veto any effort to unravel the new rules governing Wall Street.