Americans for Financial Reform is a nonpartisan, nonprofit coalition working to lay the foundation for a strong, stable, and ethical financial system.

News Release: Department of Labor to Allow Retirement Plans to Consider Sustainability, Jobs, Equity, and Worker Rights

WASHINGTON, D.C. — The U.S. Department of Labor’s final rule takes an important step to safeguard the savings of millions of workers who participate in private-sector employee benefit plans by allowing workers’ private retirement plans and pensions to consider sustainability factors like climate change, workers’ rights, racial, economic and environmental justice, and corporate governance when investing and voting proxies.

lawyer signing a document Photo by Helloquence on Unsplash

Letters to Regulators: Letter in Response to the Department of Commerce’s RFI on the Implementation of the CHIPS Incentives Program

AFREF led thirteen partners in submitting a comment letter in response to a Department of Commerce request for information on the implementation of the CHIPS incentives program.  The letter describes how stock buybacks and outsized executive compensation packages undermine innovation and inclusive economic growth, and details the semiconductor industry’s track record of massive spending on stock buybacks and CEO compensation. It then recommends bright-line rules to restrict stock buybacks and executive compensation, as well as pro-worker policies that would promote innovation and inclusive economic growth.