Capito Statement On WV Lawsuit Challenging Dodd-Frank2/14/13
Congresswoman Shelley Moore Capito, R-W.Va., Chairman of the Subcommittee on Financial Institutions and Consumer Credit, released the following statement in response to the announcement that West Virginia Attorney General Patrick Morrisey will be joining the AGs in Oklahoma, Michigan, and South Carolina in a lawsuit challenging the constitutionality of certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act:
"Two and a half years ago I voted against the Dodd-Frank Act primarily because it failed to end the phenomenon of Too Big to Fail financial institutions and codifies the bailouts for these institutions that were used during the financial crisis. We are already seeing the adverse effects this legislation is having on small financial institutions, consumers, and businesses. As Chairman of the Financial Institutions and Consumer Credit Subcommittee, I will continue working to ensure West Virginia Community Banks and Credit Unions are able to provide credit to consumers and businesses."