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Congresswoman Carol Shea-Porter

Representing the 1st District of New Hampshire

Shea-Porter Votes NO on Republicans’ Wall Street Reform Repeal Bill

June 8, 2017
Press Release

WASHINGTON, DC – Congresswoman Carol Shea-Porter (NH-01) released the following statement after the House of Representatives passed H.R.10, the so-called ‘Wrong Choice Act,’ by a vote of 233-186, with only one House Republican joining House Democrats in voting “no”:

“As a Member of Congress during the 2008 financial crisis, I was proud to vote for the Dodd-Frank Wall Street Reform bill, which outlawed the predatory behavior that threw us into recession, created the highest unemployment rate in a generation, and tanked the economy. Now, House Republicans and their Wall Street backers are trying to pull one over on the American people by repealing these protections. This dangerous bill strips back the Wall Street reform and consumer protection policies we enacted to avert another financial meltdown. It scraps ‘too big to fail’ provisions, undermines the Consumer Financial Protection Bureau, allows reckless gambling with Americans’ savings, and gives predatory payday lenders a free pass. The House Republicans who voted for this bill are casting their lot with Wall Street over Main Street by allowing those who brought our economy to the brink of collapse to once again take advantage of America’s working families and put our economy at risk.”

BACKGROUND

As a Member of Congress during the 2008 financial crisis, Shea-Porter voted against the big bank bailout, helped pass the Dodd-Frank Wall Street reform bill, and called for criminal prosecution of Wall Street executives who knowingly scammed consumers.