Lew Says White House Will Defend Financial Reform Rules

The White House will fight efforts from industry and Congress to roll back Wall Street reform measures, said Treasury Secretary Jacob Lew on Wednesday. "Let me be clear: we will vigilantly defend Wall Street reform against any change that increases risk within the financial system, weakens consumer, investor or taxpayer protections, or impedes the ability of regulators to carry out their mission," Lew said in testimony to the Senate Banking Committee. While there could be "technical fixes" and "tweaks," Congress should remember that companies and taxpayers will pay a "steep price" if Dodd-Frank is weakened, he said.