On the recordJune 8, 2017
I rise because the majority is expected to vote today to repeal Dodd-Frank, the legislation that we passed after Wall Street predators in the mortgage meltdown crisis cost the American people 8.7 million jobs and $19 trillion, including $2.7 trillion in retirement savings. Ten million Americans lost their homes and entire communities were devastated. But, amazingly, the majority wants to destroy the most important piece of financial safety legislation passed for the American people in 75 years. They call it the Financial CHOICE Act, but what kind of choice does it give you? It destroys the Consumer Financial Protection Bureau, which has saved 26 million people nearly $12 billion from scams and rip-offs. It destroys the Volcker rule, which keeps banks from making speculative bets with your money. The Financial CHOICE Act is the wrong choice for America and a very bad choice for Congress. ____________________
