Wasserman Schultz Statement On Mnuchin Nomination

Washington, DC, January 19, 2017
President-elect Donald Trump has picked a former Wall Street executive to be the chief overseer of our financial system as the next U.S. Treasury Secretary. Mnuchin has made it clear that he wants to weaken tough, new Dodd-Frank regulations, and roll back hard won consumer protections that have strengthened our financial system. Given that background and viewpoint, Steven Mnuchin seems to be preparing to reverse our progress in reining in Wall Street excesses, or forcefully protecting consumers from the shady lending practices that devastated communities throughout Florida.

Wasserman Schultz Statement on Mnuchin Nomination

 U.S. Rep. Debbie Wasserman Schultz (FL-23) issued the following statement today on Steven Mnuchin’s confirmation hearing:

“President-elect Donald Trump has picked a former Wall Street executive who wants to weaken tough, new Dodd-Frank regulations to be the chief overseer of our financial system as the next U.S. Treasury Secretary. Given that, I have little confidence that Steven Mnuchin will rein in Wall Street excesses, or forcefully protect consumers from the shady lending practices that devastated communities throughout Florida. And once again, rather than draining ‘the swamp,’ Trump is turning to the very crowd that nearly drove our economy over a fiscal cliff. America’s hard-working families deserve better. We are only now recovering from that brutal housing crisis. It’s an ugly insult to those struggling families that a man who led a financial institution that pushed aggressive foreclosure schemes would be installed into such a powerful position over our economy. Americans deserves a Treasury Secretary who will protect Main Street from Wall Street, not someone who exploited that relationship.”

###

Contact:

David Damron, David.Damron@mail.house.gov, 202.225.7931

Geoff Burgan, Geoff.Burgan@mail.house.gov, 202.225.7931