Tags: Obama | finance | warning | radio

Obama Warns GOP Not to Undo Wall Street Law

Saturday, 27 Oct 2012 07:01 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

President Barack Obama is warning congressional Republicans not to undo financial regulations he signed two years ago, taking specific note of the work of a consumer agency created by the new law.

In his Internet and radio address Saturday, Obama drew attention to the Consumer Financial Protection Bureau, noting that it and other regulators recently cracked down on three credit card companies, ordering them to pay $400 million to people who were misled into making purchases they didn't want.

"Sadly, that hasn't been enough to stop Republicans in Congress from fighting these reforms," Obama said. "Backed by an army of financial industry lobbyists, they've been waging an all-out battle to delay, defund and dismantle these new rules."

Obama often reminds campaign audiences of his push for new restrictions on Wall Street, changes that passed Congress despite widespread opposition from Republicans.

Obama, sounding much like a consumer advocate, also informed listeners that they can now contact the consumer bureau to seek redress over problems with credit scores.

In the Republican address, Missouri congressional candidate Ann Wagner promoted Mitt Romney for president, called for changing the U.S. tax code, which she called a "72,000-page monstrosity," and urged the repeal of Obama's health care law. Wagner is seeking a seat vacated by Republican Todd Akin, who is running for the Senate.

"He promised to listen, promised us change, but all we've gotten is more of the same," she said of Obama. "More spending, more red tape, more debt and decline."

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Karl Rove Hails McConnell's Campaign as Lesson to GOP

Thursday, 24 Jul 2014 10:00 AM

Republican strategist Karl Rove praised Senate Minority Leader Mitch McConnell as an example of how vulnerable GOP candi . . .

Morici: Paul Ryan's Entitlement Reforms Would Promote Work

Thursday, 24 Jul 2014 09:24 AM

Poverty is as endemic today as it was when President Johnson inaugurated the War on Poverty, and Paul Ryan is offering s . . .

Poll: Obama Overreached But Shouldn't Be Impeached

Thursday, 24 Jul 2014 09:22 AM

Most voters believe President Barack Obama has overstepped his authority with his use of executive power, but they still . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved