U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following statement on the seventh anniversary of the enactment of Dodd-Frank:

“For seven years, the American people have dealt with a stagnant financial economy, evaporating access to financial products, and less opportunity for financial independence,” Luetkemeyer said. “The culprit is Dodd-Frank and the punitive regulatory regime it left in its wake. What was billed as the solution to our economic woes has done little more than create more red tape from Washington. The people and institutions that had no role in the financial crisis bear the brunt of this stifling, Washington-knows-best regulatory regime. Earlier this year, the House of Representatives acted by passing the Financial CHOICE Act, which creates a more meaningful and effective financial regulatory structure that will restore consumers’ faith in their financial system. I look forward to working with my colleagues in the Senate to work towards passage so this important legislation can get to the President’s desk for his signature.”

Luetkemeyer is the Chairman of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit.