Surrounded by Republican members of the House Committee on Financial Services, today President Trump signed into law H.J. Res 41, which eliminates a bipartisan rule that made it harder for oil, gas, and mining companies to engage in bribery and corruption in developing nations. Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement in response:
“Section 1504 of the Dodd-Frank Wall Street Reform Act is a core element of U.S. leadership in fighting global corruption around the world. Oil, mining, and gas companies like ExxonMobil have spent years drilling into countries that are overrun by corruption and paying these governments without disclosing their transactions. President Trump and his loyal band of Congressional Republicans have cleared the way for those days to return, telling Big Oil it’s ok to do business anywhere, as long as it makes them money.
“Today, Trump has once again put special interests before hardworking Americans."