Scott Statement on Financial Executive Orders
Congressman David Scott (GA-13), a member of the House Financial Services Committee, made the following statement on President Trump’s financial executive orders announced today:
“While a delay of the fiduciary rule at the Department of Labor is something many will welcome with open arms, including myself, I am very concerned about the path today’s executive orders puts regulators down. As an original co-lead to the Dodd-Frank Act, I understand the importance of proper Wall Street regulation. We cannot go back to the days when Wall Street’s excessive risks threatened the economic stability of Georgians; when banks could sell exotic mortgages to hard-working Americans; or when banks were allowed to take risky bets with their customer’s money.
“That said, with any law this large, it is obviously going to need some fixes. I welcome any good faith effort from the Administration or my colleagues from the other side of the aisle that will help businesses gain access to more capital or help families become homeowners.”