Kilroy Named to Conference Committee for Wall Street Reform

Press Release

Today freshman U.S. Representative Mary Jo Kilroy (OH-15) was named to the conference committee of House and Senate Democratic and Republican leaders working to combine the two Wall Street reform bills. Kilroyis one of the most active and effective new members of Congress. On the Wall Street Reform and Consumer Protection Act alone Kilroy authored and passed six amendments along with successfully adding language to the House version of the most sweeping measure of reform for Wall Street since the Great Depression.

"I am proud to serve on the committee that will hold Wall St. and big corporate special interests accountable and provide the confidence that rules are in place that work for the average American," said Kilroy. "Wall Street failed Ohioans and Americans when they took bets on no-win investments that led the economy off a cliff. Taxpayers shouldn't ever foot the bill of foolish risk takers who think they can rely on the government bailing them out when they mess up."

The Wall Street Reform and Consumer Protection Act passed the House in late 2009 after numerous public hearings and included a broad overhaul of the financial regulatory system that failed consumers. The current House and Senate bills would better protect Americans in their dealings with banks, credit card companies and other firms selling financial products while holding executives, rather than taxpayers, accountable for bad business decisions.

The House and Senate versions of the bill are expected to be reconciled in the conference committee. The conference committee is expected to be one of transparency, with hearings to be broadcast live. The meetings are to begin tomorrow and expected to continue for much of June.

Source