Representative Joe Crowley deserves thanks for standing up for us, and not Wall Street’s bottom line. He needs to continue to stand firm. The issue: protecting Americans’ retirement savings.
Americans lose as much as $17 billion a year because some financial advisers pocket bigger commissions by steering clients to higher-fee or more risky investments. The U.S. Department of Labor has proposed to close the legal loophole that allows such bad acting through a rule requiring that all financial advisers put their clients’ best interests first.
Representative Crowley should be credited for voting against HR 1090, which would block the rule. Yet there are other, ongoing efforts in Congress to stop, weaken or delay the rule. We need Representative Crowley to oppose any and all such efforts.
With trillions in retirement savings at stake, there’s no time to waste.
AARP New York State Director