WASHINGTON D.C. – Congressman Raúl M. Grijalva (D-AZ) released the following statement after voting against House Republicans’ devastating “Wrong Choice Act.” The bill, passed along party lines, strips many of the regulations passed under President Obama that helped protect Americans from Wall Street’s risky business practices that led to our financial crisis.
“My Republican colleagues who voted to pass the Wrong Choice Act have made it abundantly clear that they would rather protect predatory lenders and big banks than American consumers,” Rep Grijalva said. “Their bill gives a get-out-of-jail-free pass to Wall Street so that they can squeeze every penny out of hardworking families. Under Dodd-Frank, House Democrats enacted the strongest consumer protections in history – defending hard-working Americans and ensuring accountability from big banks. Republicans have now turned back time to when reckless behavior by Wall Street cost hundreds of thousands of people their jobs, homes, and financial security. We can’t go back to those predatory days, we can’t dismantle the Consumer Financial Protection Bureau, and we must never put corrupt corporate practices over the needs of our constituents.”