Carson Votes To Strengthen Regulations On Wall Street, Protect Consumers

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Carson Votes To Strengthen Regulations On Wall Street, Protect Consumers

Today, Congressman Carson voted to pass the Wall Street Reform and Consumer Protection Act. The legislation aims to protect against future financial crises by strengthening regulations and protecting consumers:

"For years, our financial sector has misled consumers and taken dangerous risks with investor money," said Congressman Carson. "These misguided practices came to a head with our current financial crisis, showing all of us just how destructive and unregulated the financial industry can be."

"That's why I have spent the last year working with my colleagues on the Financial Services Committee to craft a comprehensive set of measures that will protect American consumers by modernizing our financial regulations and holding Wall Street accountable," Congressman Carson added. "Additionally, this critical legislation creates a new Consumer Financial Protection Agency to ensure that regulatory reforms are carried out efficiently, effectively and in the best interest of American consumers.

"The bill also reins in the risky excess of Wall Street by restricting outrageous executive pay. And most importantly, this bill protects the American taxpayer by preventing any tax dollars from being used to bailout companies deemed "too big to fail," said Congressman Carson.

"In our highly inter-connected economy, the strength of our financial sector has a direct impact on the ability of every American to keep a steady job, put food on their tables and pay for quality heath care. When signed into law, I am confident this bill will reassure every American that their financial futures are being protected through responsible regulation."

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