Hill Statement on President’s Move to End ‘Too Big to Fail’For more information, contact: Mike Siegel, (202) 225-2506
Washington, DC,
April 21, 2017
Today, House Committee Financial Services Majority Whip Congressman French Hill (AR-02) released the following statement after President Trump signed executive actions to review the Dodd-Frank Act’s Orderly Liquidation Authority and Financial Stability Oversight Council (FSOC) regulations: “The great misconception of the Dodd-Frank Act was that it would end the harmful reign of ‘too big to fail.’ Seven years later, we know that it only enshrined ‘too big to fail’ by allowing the government to decide through a nontransparent process what constitutes ‘systemically important,’ and by establishing a convoluted resolution process, potentially leaving taxpayers on the hook. Today’s actions by the White House are consistent with the Financial CHOICE Act and House Republican’s plan to finally dismantle ‘too big to fail’ once and for all.” ### |
