WASHINGTON President Obama held a private meeting Monday with financial regulators to discuss ongoing implementation of the Dodd-Frank Act, emphasizing the need to finalize additional rules quickly.
Obama met with regulators to "discuss the progress that has been made in strengthening the financial system, including the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act," according to the White House.
The meeting comes roughly three years after the crisis-era legislation was signed into law. Participants included Thomas Curry, the comptroller of the currency; Richard Cordray, director of the Consumer Financial Protection Bureau; Edward DeMarco, acting director of the Federal Housing Finance Agency; Ben Bernanke, chairman of the Federal Reserve Board; Gary Gensler, chairman of the Commodity Futures Trading Commission; Martin Gruenberg, chairman of the Federal Deposit Insurance Corp.; Mary Jo White, chairman of the Securities and Exchange Commission; and Debbie Matz, chairman of the National Credit Union Administration.
"[T]he president will have a message to these regulators, which is, he's going to convey to them the sense of urgency that he feels about getting these regulations under Wall Street reform implemented promptly and, most importantly, implemented in a way that protects the long term stability of our financial system, and the financial interests of middle class families all across the country," said Josh Earnest, deputy White House press secretary, during a press briefing ahead of the meeting.
The meeting, which was scheduled for 2:15pm, was closed to the press.
