President Obama to meet with financial regulators Monday
August 19th, 2013
05:03 PM ET
8 months ago

President Obama to meet with financial regulators Monday

(CNN) – President Barack Obama met Monday afternoon with "independent financial regulators" to discuss reforms to the banking industry and improvements in the housing market.

Fresh off his family vacation to Martha's Vineyard, Obama specifically discussed the progress made in implementing the Dodd-Frank Wall Street reform law passed in 2010.

The White House said the heads of the Securities and Exchange Commission, Federal Housing Finance Agency, and the Consumer Financial Protection Bureau, among others, attended Monday's meeting, which was closed to the press. Treasury Secretary Jack Lew also participated.

The meeting to discuss the Dodd-Frank reform bill, which Obama signed into law in July 2010, came at the conclusion of a series of speeches the president made recently on the mortgage and housing markets.

Dodd-Frank was passed in response to the financial crisis, which resulted largely due to the bubble burst of the inflated housing market. Three years later, many of the rules set forth in the legislation have yet to be completed, including those aimed at credit rating agencies.

Describing the meeting, the White House said the group went over ways their various agencies could continue cooperating to protect American consumers. They also discussed upcoming budget deadlines, which could have an effect on funding the different agencies' programs.


Filed under: Economy • President Obama
soundoff (4 Responses)
  1. @RI_Roger (Follow me on Twitter)

    More than half way through the "lost decade" and this president still can't figure out how to get us out of the trench (his term, not mine). It's time for new ideas, not the rehashing of the ones he has enacted that are not working. We as Americans need to come to reality and face we are in this trench for at least 4 more years..... "Elections have consequences".... "You get what you voted for"...etc...

    August 19, 2013 05:54 am at 5:54 am |
  2. boungiorno

    whats our housing credit rating these days i mean with the city of Detroit being bankrupt it would be fair to use the city as a template against the rest of the US quit dragging your heals if you dont know what your doing let someone in your place that does and take that to the BANK!

    August 19, 2013 05:59 am at 5:59 am |
  3. kirk

    The only thing the gop wants to regulate is the vote, oh, and abortion clinics need regulation too.but try regulating things that matter to our earth, no oil tar running through our pristine plains .there is NOTHING in it for us except disaster. It's getting difficult to continue to watch our country be controlled by big money in our politics, both sides. The agenda by the right is much more destructive, and aggressively continues the growing inequity in our nation that is a problem that the, r:ich don't want to hear,when you have the money its not a problem .
    We are no longer the country I grew up in, and the world recognizes it too.unless money in politics is stopped, it will only get worse until?

    August 19, 2013 06:25 am at 6:25 am |
  4. spiris333

    What we DO NOT NEED, is more restrictive rules and regulations for the job makers in this country. With small business struggling to maintain employment and viable operation, the fiscally ignorant fool in the White House continues to apply his liberal socialist agenda on the American people. With Obama the incompetent, it's all about controlling the populace.

    August 19, 2013 07:26 am at 7:26 am |