Obama Pledges to Veto Measures Weakening Dodd-Frank

His remarks come as Wall Street re-emerges as a force in Washington.

U.S. President Barack Obama delivers his State of the Union speech before members of Congress in the House chamber of the U.S. Capitol January 20, 2015 in Washington, DC.
Photo by Alex Wong/Getty Images

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By Clea Benson

January 21, 2015 at 3:52 AM UTC

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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.