WASHINGTON, DC – Congresswoman Carol Shea-Porter released the following statement after the Wall Street Reform & Consumer Protection Act was signed into law.
“This is a great day for the American people. The Wall Street Reform & Consumer Protection Act will rein in reckless Wall Street banks and protect consumers from abusive lending practices. This historic legislation will end taxpayer funded bailouts, prevent companies from becoming ‘too big to fail’ and create a much-needed consumer protection agency. For years, Wall Street executives operated without proper oversight and their reckless and irresponsible behavior helped cause our nation’s financial crisis. This legislation sends a clear signal: the days of Wall Street acting like a financial Wild West are officially over.”