Rush Analysis of Dodd-Frank Wall Street Reform Act Featured in Inaugural Issue of Harvard Business Law Review
CONTACT: Renee Ferguson
(773) 224-6500 ofc.; (202) 674-0891 mobile
- or -
(202) 225-4372 ofc.; (202) 431-8191 mobile
WASHINGTON –– U. S. Rep. Bobby L. Rush (D-IL) defended Wall Street reform and told readers of the premier issue of the Harvard Business Law Review that increased regulation and consumer protection will, over time, increase confidence and make the nation’s financial institutions stronger.
The article defends the Dodd-Frank Act passed in the wake of the mortgage meltdown, recession and loss of eight million American jobs. Rush believes the lack of discipline, regulation and accountability led the nation to the brink of financial disaster and that Dodd-Frank (signed into law in 2010) begins to restore order and rules that protect free and open markets. Rush was instrumental in drafting the legislation and served on the committee that helped reconcile differences between House and Senate versions of the bill before it became law. During the 110th and 111th Congress, Rush chaired the Subcommittee on Commerce, Trade and Consumer Protection of the House Energy and Commerce Committee. He is currently Ranking Member of the Subcommittee on Energy and Power.
In its first issue the new Harvard Business Law Review examines Dodd-Frank and the impact of increased congressional oversight of the U.S. financial regulatory system. Rush reassured readers that the nation’s financial institutions will weather the uncertainty that comes with systemic reform.
“Stakeholder and industry anxiety is neither uncommon nor is it unprecedented in cases of comprehensive reform,” Rush wrote. “This haziness is momentary and will last for only a finite time. We are already seeing a more understandable and navigable regulatory landscape for financial and insurance services beginning to take shape.”
Rush congratulated the editors of the Harvard Business Law Review which is one of 17, student-edited journals that the Harvard Law School publishes.
“I am greatly honored to have been asked to author a preface to the inaugural volume. The fact that it focuses on the Dodd-Frank Wall Street Reform and Consumer Protection Act is an indication of the serious thinking that we can anticipate going forward.”
# # #
NOTE: Click here to read the inaugural edition: https://www.hblr.org/current-issue/