Martin O'Malley

Martin O'Malley's policies onJobs & Economy

Protect the Dodd-Frank financial reforms in trade agreements

The biggest banks are already lobbying aggressively over the details of future trade agreements, particularly the Transatlantic Trade and Investment Partnership (TTIP)—a proposed deal between the United States and the European Union. It is very likely that they will try to use the agreement to undermine Dodd-Frank’s capital requirements and leverage ratios, derivative compliance rules, and other protections. If the largest players in the global financial industry win out, American banks could shift business to Europe (or even reincorporate some of their activities there)—where financial rules are much weaker than in the United States—in order to sidestep Dodd-Frank altogether.

In addition, O’Malley will strongly oppose any trade provisions that would require new financial regulations to be screened (or even slowed down) based on how they might impact trade. No trade agreement should be used to delay implementation of important financial regulations against the public’s will

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