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Boston, MA—Senator Scott Brown announced his plans to support the Wall Street reform bill when it comes up for a vote later this week.
“We applaud Senator Brown’s leadership in voting for this historic bill,” said Lizzi Weyant, staff attorney at MASSPIRG. “American consumers need strong new rules to protect them in the financial marketplace, and Senator Brown will deliver these strong reforms for Massachusetts residents.”
In the past two weeks, Senator Brown has remained uncommitted to voting for the bill, prompting groups like MASSPIRG and other members of Americans for Financial Reform to pressure the Senator to support this important legislation.
“In the wake of the biggest financial collapse since 1929, consumers need confidence in the financial markets to help create economic recovery. This legislation represents the best way to do that,” continued Weyant.
“Senator Scott Brown’s statement is encouraging, yet opponents of Wall Street reform, including lobbyists for the big banks and the U.S. Chamber of Commerce, continue to urge others to vote ‘no’ by falsely claiming that the sweeping reform package is a bailout for the big banks. That's wrong and Senators should not stand for it,” added Ed Mierzwinski, Consumer Program Director of U.S. PIRG.
“The bill will hold Wall Street bankers and others accountable for their reckless actions that wrecked the economy. We will continue to urge all Senators to listen to their constituents, not to the big banks, because an overwhelming majority of the American people want the president to sign this bill reining in Wall Street and establishing the landmark Consumer Financial Protection Bureau,” continued Mierzwinski.
Senator Brown worked to strengthen the bill, putting in protections for military families and offering early support for the Consumer Financial Protection Bureau.
“Combined with the ongoing leadership of Senator John Kerry, Massachusetts now has two strong votes for financial reform,” concluded Weyant. “This is a proud day for the Bay State.”
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