Under current practice, investors seeking brokerage and other financial advisory services must agree in advance to submit any complaints to arbitration by an industry-run regulatory body. The Investor Choice Act would restore the right of investors to take such disputes to a court of law, if they prefer.
Senator Pat Roberts (R-Kan.) has introduced legislation directing U.S. companies to refuse to comply with the proposed tax. Rather than trying to obstruct the EU proposal, “U.S. elected officials should be considering the potential benefits that such taxes could deliver for this country.”
AFR joined AARP, AFL-CIO, Consumer Federation of America, Demos, Pension Rights Center, Public Citizen, and U.S. PIRG in sending a letter to members of the Senate urging them not to sign a letter being circulated by Senator Tester attempting to stop a Department of Labor rule making to protect retirement savings by closing gaps and loopholes in fiduciary duty requirements in connection with ERISA funds.
AFR joined the AFL-CIO, AFSCME, Consumer Federation of America, SEIU, and U.S. PIRG in sending a letter to the Senate opposing S. 710. S. 710 would weaken accountability for financial advice to municipalities, harm communities, and is unnecessary given the exemptions that already exist in the law and the authority of the SEC to address any outstanding issues.
AFR joined more than 160 public interest groups in urging the Senate to confirm Richard Cordray as Director of the CFPB.
AFR sent letters to members of the House and Senate urging them to support full funding for the CFTC. The CFTC’s role in regulating commodity markets is vital to overall financial stability and cannot do its job without this vital funding.