Obama Vows Vetoes to Dodd-Frank Changes. President Barack Obama touted the Dodd-Frank Act during his recent State of the Union speech as well as the growth of the CFPB, and threatened a veto should the Republican-controlled Congress pass any additional fixes to Dodd-Frank. “Today, we have new tools to stop taxpayer-funded bailouts, and a new consumer watchdog to protect us from predatory lending and abusive credit card practices,” Obama said. “We can’t put the security of families at risk by taking away their health insurance, or unraveling the new rules on Wall Street, or refighting past battles on immigration when we’ve got a system to fix. And if a bill comes to my desk that tries to do any of ...