Cohen Statement on President Obama Signing Wall Street Reform Into Law

WASHINGTON, D.C. – Congressman Steve Cohen (TN-9) today issued the following statement after President Obama signed the Wall Street Reform and Consumer Protection Act into law. The measure will rebuild our economy by instituting common-sense rules to ensure big banks and Wall Street do not jeopardize the economic futures of working families.

Congressman Cohen said: “President Obama made history again today by signing this bill into law. Under this new law, big banks will no longer be able to gamble with our savings or economic futures.

Through deregulation under President Bush and Republicans, big banks and Wall Street exploited loopholes and gambled with the savings of millions of Americans, causing the worst recession since the Great Depression.

The bill President Obama signed into law establishes a much needed consumer protection bureau that will help protect working families, college students, seniors and small businesses from being exploited by Wall Street.”