Washington, DC — Dennis Kelleher, President and CEO of Better Markets, issued this statement on Sec. Hillary Clinton’s support of the Department of Labor’s (DOL) proposed rule to protect Americans from conflicts of interest when brokers and other financial advisers give retirement advice:
“We applaud Sec. Clinton for unequivocally supporting this key Department of Labor rule to protect the savings of tens of millions of Americans, and standing up to attempts by Wall Street and its allies in Washington to kill the rule. Sec. Clinton’s support continues the momentum in favor of this common sense proposal to finally end the outdated 40-year old loopholes that are costing Americans saving for retirement tens of billions of dollars every year, money that belongs in their retirement accounts, not brokers’ pockets. The American people have waited long enough for these safeguards. All Presidential candidates should support the DOL’s best interest rule to finally give hardworking Americans a much greater ability to retire with dignity and security.”
Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.