Rep. Bass Warns Trump Administration on Dodd-Frank Effect on the DRC
"Once again, we are witnessing dangerous attempts by the Trump administration to roll back legislation aimed at protecting the human and civil rights of people not only in this country but abroad. Prior to the Dodd-Frank Act’s implementation, local militias sought to finance their conflicts in the Democratic Republic of Congo and the immediate region by the sale of 'conflict minerals.' Section 1502 ensured that thousands of civilians in the affected regions are no longer subject to such violence or intimidation by warring factions.
"Any consideration of rescinding Section 1502 is simply short-sighted and indicative of a callous lack of concern regarding the rights of these populations. I take this opportunity to commend, those companies such as Intel, Apple and Tiffany &Co., which have embraced the spirit and goal of Section 1502,” and I call on all companies affected by Section 1502 to follow suit."
Rep. Bass followed up with the above statement with a letter to the President expressly asking him to reconsider issuing a memorandum that would waive the specific Conflict Minerals Rule pursuant to Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Read the full letter here.