Obama: Wall Street reforms have worked

AP News
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Posted: Mar 07, 2016 12:44 PM
Obama: Wall Street reforms have worked

WASHINGTON (AP) — President Barack Obama is rejecting criticism from those on the left and the right who say his administration hasn't done enough to prevent another financial crisis.

Obama says the changes enacted early in his tenure "have worked." He says the Dodd Frank law made the financial system more secure, implemented consumer protections and did not hurt the economy.

Obama says critics are spreading "cynicism." The president didn't name names, but both Democratic and Republican presidential candidates have suggested that the administration wasn't tough enough on Wall Street following the 2008 financial crisis.

Obama made the remarks at a meeting with financial regulators.