The U.S. Department of the Treasury today released the following statement from Treasury Secretary Tim Geithner on the Senate’s passage of S.3127, the Restoring American Financial Stability Act of 2010:
“Today we stand closer than ever to enacting meaningful financial reform that will benefit every American family and business, help improve the competitiveness of our financial markets, and strengthen the safety and soundness of our financial system. I commend Chairman Dodd and Majority Leader Reid for their tremendous leadership in passing the Restoring American Financial Stability Act of 2010. Today’s bipartisan vote follows many months of hard work. The House and Senate have now each passed strong bills that protect consumers, limit risk-taking by large institutions, and addresses the problem of “too big to fail.” As we move ahead, I look forward to working with the House and Senate to produce a sensible, prudent reform bill that strengthens the American financial system and preserves our ability to innovate and compete in a global economy.”
