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.
The FCC has been collecting data about special access services for the last few years and there are a number of open proceedings
Will the FCC Stop Verizon & AT&T's Manipulation of Financial Accounting & Special Access (BDS) Overcharges?
"We found that the majority of expenses were diverted to 'Local Service', while the Verizon affiliate companies were able
Special Access is $60+ Billion in Annual Revenues; Overcharging of Local Phone Customers is Over $121+ Billion from Cross-Subsidies for Just 5 Years*
We estimate that in 2014, special access regulated revenues was $31.6 billion. (This is from "It's All Interconnected", published
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.
DOL thinks it isn't enough to give lip service to a best interest standard. You also have to change the common industry practices that work against that goal. And that, of course, is why industry finds the DOL rule so threatening.
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.