Manan Trivedi Statement on Wall Street Reform Becoming Law

Statement

The following is a statement by the Democratic candidate for Pennsylvania's 6th congressional district, Manan Trivedi, in response to President Obama signing the Wall Street Reform and Consumer Protection Act into law.

"Small business owners and hard-working families across the 6th district have all told me the same thing: that to spur small business growth and reboot our economy, simpler, more readily-understandable banking practices have to be in place.

"Well, this afternoon, the president signed into law common-sense financial reforms that will do just that, reforms that will see to it that Wall Street never again brings us to the brink of collapse -- by requiring clear rules and practices, protecting consumers, and holding banks accountable.

"If banks clarify their financial procedures, we can bring the fine print into focus and ensure that average, hard-working Pennsylvanians do not unknowingly sign themselves up for hidden fees, skyrocketing rates, or loans they simply cannot handle. By making Wall Street responsible for their own actions, we can stop financial institutions from backing the government into a corner and prevent our taxpayers from facing the necessity of a bailout ever again. And, when fiscal certainty and stability is finally restored to the markets, banks can once again open the channels to the lending that fuels entrepreneurship, innovation, and small business growth.

"While Jim Gerlach would rather side with the Wall Street donors that prop up his campaign and continue to dismantle essential regulatory practices, I understand that these reforms are a major win for my neighbors and will help to protect their futures. With these practical Wall Street reforms, we can increase the security for the student taking out loans, the small business owner embarking on a start-up, and the hard-working American saving for retirement."

Manan Trivedi is the Democratic nominee for Congress in Pennsylvania's 6th Congressional District. He is a primary care physician, a former Lt. Commander in the U.S. Navy, and an Iraq War veteran from Berks County.

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