Financial Reform

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Over the past year, America has faced the worst financial crisis since the Great Depression, leaving millions of Americans struggling with unemployment, businesses failing, home prices falling, and savings plummeting. Financial regulatory reform represents a common sense change in the way government interacts with both Wall Street and Main Street which will ensure we don’t go back to the kinds of abuse and irresponsibility that helped to cause this crisis. It is time to restore responsibility and accountability to our financial system and provide Americans with the confidence that there is a system in a place that works for and protects them – not just the banks, hedge funds and other financial institutions.
Financial Reform will protect American consumers from abuse and predatory practices and it will set clear rules of the road for the financial industry that will help prevent another financial collapse that costs millions of jobs and the life savings of millions of Americans. It will end the era of irresponsibility from Wall Street, from government, and indeed from those ordinary Americans who simply took on more than they could afford.
  • Reform will establish one new Consumer Financial Protection Agency whose sole job will be protecting the American consumer;
  • Close loopholes and require tough new rules and greater transparency from investment advisors, financial brokers and hedge funds - holding them accountable while protecting investors and businesses;
  • Strengthen oversight and aggressively pursue financial fraud, conflicts of interest and manipulation of the system that benefits the special interests at the expense of American families and business;
  • Put in place tough new capital requirements, rigorous standards and supervision that to make sure that no financial institution is capable of bringing down the economy.