Pew Lauds Signing of Financial Reform Legislation; Challenges Administration to Implement Law Effectively

WASHINGTON, July 21 /PRNewswire-USNewswire/ -- John E. Morton, managing director of the Pew Economic Policy Group, issued the following statement today on the occasion of President Obama's signing of the "Wall Street Reform and Consumer Protection Act."  

"Today's signing of comprehensive financial reform legislation into law marks the culmination of nearly two years of productive, bipartisan debate about how best to address the causes of the recent financial crisis and reduce the risk of future crises.

"Americans asked for reform, and Congress and the Administration have delivered. This new law is a major step in a positive direction.

"But this is only the beginning. For the law to be truly meaningful, the regulatory agencies charged with implementing it must act with discipline and focus in the months and years ahead. Now, Congress and the regulators must turn their attention to oversight and implementation to ensure that the next phase of reform receives the same level of attention and scrutiny as the first. The American people deserve nothing less."

The Pew Economic Policy Group is a division of The Pew Charitable Trusts and promotes policies and practices that strengthen the U.S. economy. Pew applies a rigorous, analytical approach to improve public policy, inform the public and stimulate civic life.  www.pewtrusts.org

SOURCE The Pew Charitable Trusts