Every year, American savers lose up to $40 billion because brokers give them bad advice. In spite of this, SEC Chair Jay Clayton has proposed new rules that won’t stop conflicts of interests that lead brokers to rip off their clients. The SEC should protect small investors, not give away the store to Wall Street.
The shutdown is over (for now), but the pain it is STILL creating for workers is very real. It caused many federal workers and employees of federal contractors to miss payments on their car loans, credit cards, or mortgages. That’s why we are urging the credit bureaus — Equifax, Experian, and TransUnion — to proactively remove any negative information that appears during the shutdown period from consumer credit reports for workers affected by the shutdown.
We need a democracy where voters are protected from discrimination and can make themselves heard at the ballot box. A democracy that isn’t bought and paid for by the highest corporate bidder. And a democracy where ordinary Americans — more women, people of color, and working people — can run for office without relying on special interest Big Money.
Just imagine what a Congress that took our democracy seriously could accomplish. We must ensure that the For The People Act (H.R. 1), which the House of Representatives is introducing, is the strongest package possible of democracy reforms — to make sure government works for all of us.
The banks that caused the 2008 financial crisis with their greed and recklessness are even bigger now than they were ten years ago. Separating risky investment banking and “boring” commercial banking will help prevent financial crises – and bailouts – and refocus banks on serving their customers. Not only would this make bank activities less risky, it would make the institutions smaller, breaking up megabanks and leveling the playing field for smaller banks.