Hillary Clinton Urges Democrats to Block GOP Attempts to Weaken Dodd-Frank Act in Spending Bill Negotiations

NEW YORK—(ENEWSPF)—December 7, 2015. In a new op-ed to be published in the New York Times today, Hillary Clinton is urging the White House and Congressional Democrats to hang tough in the closing days of negotiations around an omnibus spending bill, and resist the call from Republicans who are insisting on the inclusion of so-called “policy riders” that would weaken the Dodd-Frank Act and other critical financial reforms.

Among the Republican efforts that concern Clinton are ones that would substantially weaken the Consumer Financial Protection Bureau’s ability to protect Americans from unfair and deceptive practices; another that would stall the Department of Labor’s “conflicts of interest” rule, which prohibits retirement planners and other financial managers from enriching themselves at their clients’ expense; and still others that would undo and water down critical constraints on some of the biggest and riskiest financial firms.

As the negotiations around the spending bill enter their final, critical hours, Clinton today released the following statement:

“Republicans, both in Congress and on the campaign trail, are dead-set on rolling back the protections in the Dodd-Frank Act. They’re attempting to defund and hamstring the Consumer Financial Protection Bureau, an agency whose sole purpose is protecting Americans from unfair and deceptive financial practices. They want to roll back commonsense efforts to prevent conflicts of interest by financial managers, which are designed to protect hardworking families’ retirement savings. And they’re trying to undo constraints on risk at some of the largest and most complex financial institutions.

“President Obama and Congressional Democrats should do everything they can in the budget negotiations to stop these efforts. If Republicans want to hold the American economy hostage for the benefit of special interests on Wall Street, that’s a fight all Democrats should be ready to wage and win.”

Clinton’s full op-ed is viewable HERE.