On the recordJuly 9, 2019
I thank Chairwoman Waters for her vigilance and her steadfast leadership in continuing to bring people together across the aisle on issues of consequence to the American people and always putting consumer protection at the center of that. I also thank my colleague, Representative Huizenga, for his partnership. Mr. Speaker, I rise today in support of my resolution, which highlights the important role that State securities regulators play in strengthening the financial services industry. The 2008 economic crisis devastated American families everywhere. But, as we watched the unemployment skyrocket, home values plummet, and credit disappear, it became clear that the impact of the crisis hit harder for some. Black families that had only just begun to build wealth through homeownership watched everything they had worked for disappear. And although the recovery has been similarly unequal, it is critical to recognize those on the front lines protecting the investments of working families and small businesses alike. The North American Securities Administrators Association, NASAA, comprised of securities administrators from all 50 States, are champions for stronger investor protections and diligent oversight. My home State of Massachusetts was the first to require the registration of some securities, helping to lay the groundwork for other State models that would serve as the foundation for future Federal securities law.…
