FOR IMMEDIATE RELEASE

DATE: July 15, 2010

Washington, DC – Americans for Financial Reform, an unprecedented coalition of more than 250 national and state organizations who have spent the past year fighting for Financial Reform legislation, issued the following statement today on Senate passage of the bill:

Heather Booth, Director, Americans for Financial Reform: “Passage of this legislation is a victory for Main Street over Wall Street. Nearly two years after Wall Street and the Big Banks took our economy to edge of the abyss, and cost 8 million Americans their jobs, Congress has passed and sent to the President the most sweeping banking reforms since the Great Depression.

“The legislation will take unprecedented steps to clean up Wall Street.

• It will protect consumers buying homes.
• It will create new rules of the road for credit to protect families and small businesses.
• It will rein in the casino economy and stop speculators from operating in secret.
• It will give the tools to stop future bailouts.
• It will make our economy more secure and more stable.

“Despite all the millions spent and armies of lobbyists deployed to kill this reform, Main Street has come out ahead because people organized, protested and raised their voices.  Americans will long remember those in Congress who courageously stood with Main Street again the Big Banks, who have tried for two years to kill this bill.

“There is no question that the Big Banks, and their high priced lobbyists will continue to work to weaken or gut reforms and we will continue to fight to ensure that the strongest reforms are implemented.

“This is the beginning and not the end of the struggle to hold the big banks accountable. We will continue the fight to make sure the promise of the legislation is realized. Today we join tens of millions of Americans in celebrating this victory and applauding Congress for its bold action.”

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Read more about the financial reform bill.

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Here is a list of press releases from our partners:

• A New Way Forward – The Finreg Bill Proves The Banks Proved the Banks Can be Beaten
• AARP  – AARP Praises Senate for Passing Financial Reform
• AFL-CIO – Statement by AFL-CIO President Richard Trumka on Comprehensive Financial Reform
• American Sustainable Business Council – American Sustainable Business Council Applauds Financial Reform Passage As Vital for Business
• Americans United For Change – Democratic-Led Congress Delivers Major Victory for Main Street with Passage of Wall Street Reform
• Center for Economic and Policy Research – Statement on Wall Street Reform Bill
• Consumer Action – U.S. Senate Stands With Consumers on Financial Reform
• Consumer Federation of America – CFA Applauds Senate Vote on the Dodd-Frank Financial Reform Bill
• Demos – “Today We Start Rebuilding (the) American Middle Class”
• Green America – Landmark Steps Won: New Financial Protections for Consumers & Small Business
• The Greenlining Institute – Financial Reform Will Help Low-Income Americans, Communities of Color
• Institute for Agriculture and Trade Policy – Wall Street Reform Bill Signed Today Will Limit Excessive Speculation in Agriculture
• Laborers’ International Union of North America – LIUNA Applauds Senate Passage of Financial Reform
• The Leadership Conference on Civil and Human Rights – Statement by Nancy Zirkin on Final Senate Passage of Wall Street Reform Legislation
• Maine Small Business Coalition – A Win for Main Street
• National Consumer Law Center – NCLC Applauds Final Passage of Wall Street Reform
• National Council of La Raza – Final Passage Of Financial Regulatory Reform By Congress Is A Major Victory For Latino Families, Says NCLR
• National Community Reinvestment Coalition – NCRC on Senate passage of the Wall Street Reform Bill
• National People’s Action – Financial Reform Passes!
• PICO National Network – Faith Groups Hail Passage of Financial Reform Legislation
• Project On Government Oversight – Several POGO Recommendations Adopted in Financial Reform Bill
• Public Citizen – Congress Passes Financial Reform, Consumer Protections; Much More Must Be Done to Rein in Wall Street
• The Service Employees International Union – Wall Street Reform Vote Makes Clear Who Is On the Side of Working Families
• Social Investment Forum – Social Investment Forum Commends Senate For Joining House of Representatives in Approving Financial Reform Bill
• Sojourners – Rev. Wallis Says Financial Bill Gives Stronger Voice To Main Street
• Teamsters – Hoffa Commends Congress For Enacting Financial Reform
• US PIRG – Historic Wall Street Reform Ready For Final Passage

Here is a list of press releases from various governmental organizations and/or figures:

• President Barack Obama’s Remarks on the Passage of Financial Regulatory Reform
• Statement by Ben S. Bernank, Chairman of the Board of Governors of the Federal Reserve System
• Senator Benjamin Cardin’s (D-MD) Statement on Final Passage of Wall Street Reform
• Timothy Geithner, Treasury Secretary, Remarks on Passage of the “Wall Street Reform and Consumer Protection Act”
• Senator Tom Harkin (D-IA): Wall Street Reform Bill Will Protect Iowa Families
• Senator Jeff Merkley’s (D-OR) Statement on Final Senate Passage of Wall Street Reform
• Senator Ben Nelson’s (D-NE) Statement on Passage of Wall Street Reform