March 23, 2018

Congresswoman Dina Titus from Nevada’s First Congressional District released the following statement after today’s vote on S. 2155, legislation to roll back numerous requirements put on financial institutions through the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank):

“Las Vegas was one of the hardest hit communities during the Great Recession. For 62 straight months, Nevada led the nation in delinquent mortgages and foreclosures. 
 
“While not perfect, Dodd-Frank helped correct some of the problems that led to the financial crisis, giving us better predictability, strengthening capital requirements, and holding the biggest banks accountable. Although I am supportive of several provisions in the bill intended to help community banks and credit unions continue to play a vital role in our local economy, this bill goes further, weakening oversight, stress testing, and capital requirements of some of the largest banks, rewarding Equifax despite its failure to safeguard personal data, and putting consumers at greater risk. 
 
“It rolls back key provisions put in place to address problems that led to the 2008 financial crisis and would expose people once again to discriminatory lending practices that hit minority populations the hardest. How soon Republicans forget! We must not let history repeat itself.”