Maloney Statement on Senate Passage of Financial Stability Bill

May 21, 2010 Issues: Financial Institutions, Financial Services

WASHINGTON, DC – House Financial Services senior member and Joint Economic Committee Chair Rep. Carolyn Maloney (D-NY) issued the following statement on the passage of the Financial Stability Bill in the Senate:

“Senators Dodd and Lincoln and Majority Leader Reid deserve hearty congratulations and praise for shepherding passage of S. 3217, the ‘Restoring American Financial Stability Act of 2010.’  The long hard climb to protect consumers and stabilize the financial system is finally approaching the finish line. By creating a Consumer Finance Protection Bureau and by bringing the kinds of complex deals that helped trigger the financial crisis out in the open, we will have helped to prevent abuses and improved the stability and soundness of our financial system. 

“I look forward to supporting Chairman Frank and Speaker Pelosi in helping resolve the remaining differences between the House bill, which we passed last Fall, and the Senate bill, and sending final legislation to President Obama’s desk as soon as possible.”

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