Republicans Announce Second Attempt at Wall Street Deregulation
Waters Criticizes GOP for Putting Wall Street before Main Street
Following the announcement by the House Rules Committee that on Monday it will consider H.R. 37, a package of 11 bills designed to undermine important Wall Street regulation, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, criticized House Republicans for continuing to push legislation benefitting Wall Street at the hands of American consumers. This week, House Democrats defeated Republican efforts to fast track the same measure through a process known as suspension of the rules.
“House Republicans continue to stop at nothing to push legislation that benefits Wall Street’s biggest banks at the expense of American consumers. Last year, GOP leadership snuck a sweetheart giveaway for banks like JP Morgan and Citigroup into a must-pass spending measure. On just the second day of the Congressional session, they continued that strategy by trying to push through a complicated package of 11 bills to deregulate Wall Street. Fortunately, House Democrats joined together to stop that effort from moving forward. But Republicans won’t be daunted in their efforts to gut important Wall Street reforms.