Consumer Federation of America
You've probably already heard a lot of advice about what you should do do this summer -- buy this, vacation there, see that
Rohit Chopra is one of the toughest consumer advocates in Washington.
Special Access is part of "Access" services, which are payments for using the networks or access lines, such as special access
Will the FCC Stop Verizon & AT&T's Manipulation of Financial Accounting & Special Access (BDS) Overcharges?
On April 28th, 2016, the FCC started the process to take actions to fix the broken $40 billion special access market, now
Special Access is $60+ Billion in Annual Revenues; Overcharging of Local Phone Customers is Over $121+ Billion from Cross-Subsidies for Just 5 Years*
In this next example, Verizon NY's Local Service had 65% of revenues and paid 62% of the network expenses in 2003; Access
During the closing of this article, the Consumer Federation of America released a report claiming that abusive special access pricing has cost customers and consumers over $150 billion in overcharging and economic harms since 2010.
The SEC's enforcement of the fiduciary duty under the Investment Advisers Act has been long on disclosure and short on real avoidance of conflicts.
An explosive new blog post at AdvisorHub purports to quote a high-ranking Morgan Stanley executive deriding the notion that Wall Street would ever allow a real fiduciary standard to be applied to its business. The arrogant assumption that Wall Street runs Washington and the patent disregard for investor well-being give the alleged emails a convincing ring.
In an increasingly frantic effort to derail new protections for retirement savers, SIFMA, the self-described "voice of the U.S. securities industry," has purchased yet another study that purports to show why a pending Department of Labor (DOL) proposal to require all financial advisors to put their customers first is unnecessary and inappropriate.
In addition to shedding crocodile tears over the potential harm to middle-income savers if brokers have to start acting in their customers' best interests, financial services firms and their lobbyists have increasingly voiced their outrage that the Department of Labor believes it has a role to play in regulating retirement advice.
Ever since the Department of Labor proposed several years ago to close regulatory loopholes that allow financial firms to offer conflicted retirement advice without having to act in the best interests of the retirement savers who rely on that advice, financial services firms have been nearly apoplectic in their opposition.
The indications we've been given -- although no one is willing to state definitively what the final rule is likely to include -- suggest that we shouldn't get our hopes up that our chief concerns will be comprehensively or even meaningfully addressed. We hope we are reading those indications wrong.
The Consumer Federation of America has objected to the proposed federal licensing on the grounds that it would lower qualifications
Unfortunately for Chair White, her predecessors' mishandling of the JOBS Act rulemaking to lift the ban on general solicitation in private offerings has left her with an uncomfortable choice between speeding implementation of that rule and ignoring her commitment to follow the economic analysis guidelines.
There is a scandal here, but it is not the one House Republicans have seized on.