Mary Miller, the U.S. Treasury Department's assistant secretary for financial markets, warned today against curtailing the Dodd-Frank law.
"Scaling back or repealing major parts of the Dodd-Frank Act, or not providing regulators with the funds they need to implement the act, will leave our economy exposed to a cycle of collapses and crises, with potentially devastating repercussions," Miller said in remarks prepared for a speech in New York today.
Miller was speaking at a conference held by the Securities Industry and Financial Markets Association, Wall Street's biggest lobbying group, to mark the one-year anniversary of Dodd-Frank, which was signed into law on July 21, 2010.
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