National Consumers League

NCL statement on rollback of Dodd-Frank

March 15, 2018

Contact: NCL Communications, Carol McKay carolm@nclnet.org, (202) 207-2831

Washington, DC—The National Consumers League (NCL) today responded to the passage of new legislation that marks the "biggest loosening of financial regulations since the economic crisis a decade ago."

The following statement may be attributed to NCL Executive Director Sally Greenberg:

"We regret that the Senate has endorsed a bill to roll back essential protections against 'too-big-to-fail banks and other measures ensuring the stability of our financial markets. This move ignores the potential for reckless speculative activity by financial industry players who are too often focused on short-term gains and have no regard for the long-term implications of financial collapse for workers and consumers. We urge Congress not to repeat history and think about the long-term financial well-being of all of Americans, not just the financial services industry."

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About the National Consumers League
The National Consumers League, founded in 1899, is America's pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit http://www.nclnet.org.