CONGRESSMAN CHRIS VAN HOLLEN

Maryland’s 8th District

For Immediate Release

July 21, 2015

CONTACT:  Bridgett Frey – 202-225-5384

Ian Jannetta – 202-225-1527

Van Hollen Statement on Fifth Anniversary of Wall Street Reform Act

Washington, DC – Today Maryland Congressman Chris Van Hollen released the following statement marking the 5th anniversary of President Obama signing the Wall Street Reform and Consumer Protection Act into law:

“Passing Wall Street Reform was a necessary step to recover from the Great Recession and instill discipline and accountability into a system that is vital to a stable and growing economy. As part of the House Democratic leadership team, I was proud to help get Wall Street reform to President Obama’s desk. Because of that effort, American taxpayers are no longer on the hook for Big Bank bailouts. Victims of deceptive financial practices have seen over $10 billion returned to them thanks to the work of the Consumer Financial Protection Bureau. And our financial system is being more effectively monitored for signs of weakness and stress, allowing us to deal with any potential downturn before it manifests into a recession or worse.

“Unfortunately, Washington Republicans are doing everything possible to stall implementation and weaken the law at a time we should be doing just the opposite. I will continue to fight on behalf of all American taxpayers for an economy that rewards hard work and playing by the rules.”