FOR IMMEDIATE RELEASE

CONTACT:
Carter Dougherty
Communications Director
carter@ourfinancialsecurity.org

On the occasion of his confirmation hearing, consumer advocates, community organizations, civil rights groups and labor unions today called on Alex Acosta, President Trump’s nominee for Secretary of Labor, to stand by a regulation intended to ensure that financial advisers put their client’s interests first:

“The fate of the rule protecting retirement savers lies in the hands of the labor secretary,” said Lisa Donner, executive director of Americans for Financial Reform. “The public deserves to know whether Alex Acosta stands for seniors, and everyone saving for retirement, or whether he sides with the worst elements of Wall Street. Will he let the rule go into effect as written and on time, or will he continue down the path that this administration has begun, which would cost investors billions each year?”

A letter to the Senate Committee on Health, Education, Labor and Pensions on the Acosta nomination is below: