Pelosi Statement on 12th Anniversary of Wall Street Reform

Washington, D.C. – Speaker Nancy Pelosi released the following statement to mark the 12th anniversary of President Barack Obama's signing of the landmark Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21, 2010:

"For twelve years, the Democratic-passed Dodd-Frank Wall Street Reform and Consumer Protection Act has defended the rights and prosperity of working families across the nation. A pillar of financial security, this landmark legislation has helped curb the reckless corporate greed that sparked the Great Recession, destroyed jobs and wiped out workers' hard-earned savings. Today, Dodd-Frank continues to level the playing field for American consumers – holding Wall Street accountable for abuse and safeguarding our economy against another disastrous financial meltdown.

"Today also marks the 11th anniversary of the Consumer Financial Protection Bureau, an unprecedented force for fairness in our financial system. This independent watchdog has helped build a more just economy for all: cracking down on predatory lenders, expanding access to affordable credit and standing up for hard-working families. Since its establishment, the CFPB has secured more than $14 billion in consumer relief – bringing justice and security to millions of defrauded Americans. While Republicans have waged a decade-long campaign to undermine this transformative agency and its protections for seniors, servicemembers and other Americans, House Democrats have fought to build on the CFPB's success – advancing the Consumer Protection and Recovery Act to empower the Federal Trade Commission to recover scam victims' stolen funds.

"Together, President Biden and House Democrats remain laser-focused on building a stronger economy for all working people: creating jobs, growing paychecks and lowering costs at the pump, at the grocery store and across the board."