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Obama pledges to veto measures weakening Dodd-Frank

President Barack Obama pledged to veto any legislation that weakens new curbs on Wall Street as banks and the Republican-led Congress increasingly seek to roll back the Dodd-Frank financial-regulation law.

By Clea Benson, Bloomberg | Updated on January 21, 2015
President Barack Obama delivers his State of the Union address to a joint session of Congress on Capitol Hill on Jan. 20 in Washington. Vice President Joe Biden and House Speaker John Boehner listen in the background. (AP Photo/Mandel Ngan, Pool)

(Bloomberg) — President Barack Obama pledged to veto any legislation that weakens new curbs on Wall Street as banks and the Republican-led Congress increasingly seek to roll back the Dodd-Frank financial-regulation law.

Obama included the message in his State of the Union speech Tuesday after the House approved a measure last week that would loosen some restrictions in the 2010 law. His remarks also come as Wall Street re-emerges as a force in Washington, having successfully attached one of its top legislative goals to a government spending bill that lawmakers approved at the end of last year.

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