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For Immediate Release

Friday, February 03, 2017

AFSCME Pres. Lee Saunders on Repeal of Financial Regulations

WASHINGTON — 

AFSCME Pres. Lee Saunders issued the following statement regarding the Trump administration’s executive order to repeal Dodd-Frank regulations:

“The Trump administration has done it again. They talk the talk about helping working people and middle-class families; but they only walk the walk for Wall Street.

“Dodd-Frank was about reining in the Wild West excesses of the very people who brought the economy to its knees in the first place. Repealing these regulations — and having a former Goldman Sachs executive make the announcement — is a kick in the gut to everyone who struggled and suffered through the Great Recession, everyone who lost their home or saw their retirement savings evaporate. Adding insult to injury, the administration also wants to roll back regulations protecting consumers from being bilked by unscrupulous financial advisers.

“We’ve come a long way to bounce back from the worst financial crisis in generations. Working families are just beginning to recover. But instead of building an economy that works for everyone, President Trump wants to reward the greed and abuse of a wealthy few.”

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