Industry Study on Fiduciary Duty Standards Faulted Earlier this month, CFA filed comments with the Securities and Exchange Commission (SEC) warning the agency against relying on a misleading Securities Industry and Financial Markets Association (SIFMA) study as it prepares its own study of the standard of conduct that should apply to brokers when they give … Continued

Congress Clears Temporary Extension of Flood Insurance Program On September 30, President Obama signed into law a one-year extension of the federal flood insurance program. CFA supported the decision to provide a temporary extension of the program in order to “provide stability to a program that has been allowed to lapse several times recently.” In … Continued

Administration Proposes Increase in Fuel Economy Standards The Obama Administration proposed new fuel economy standards last week that could boost fuel economy to as high as 62 mpg for cars and light trucks by 2025. Last April, the Administration issued new standards for passenger car model years 2012 through 2016. The new proposal, which is … Continued

Warren to Play Key Role in Start-up of New Consumer Protection Bureau Ending months of speculation, President Obama announced last week that Harvard Professor Elizabeth Warren will play a key role in the start-up process for the new consumer protection bureau created by the Dodd-Frank regulatory reform bill. CFA Legislative Director Travis Plunkett commended the … Continued

Advocates Push for Action on Food Safety Bill With Congress returning from its August recess last week, food safety advocates and foodborne illness survivors renewed their efforts to win an immediate vote on food safety legislation (S. 510) that has been languishing in the Senate for more than a year.  CFA, Center for Science in … Continued

2015 Issues June 30, 2015 June 15, 2015 May 28, 2015 May 6, 2015 April 23, 2015 March 30, 2015 March 12, 2015 February 27, 2015 February 5, 2015 January 28, 2015 2014 Issues December 18, 2014 December 4, 2014 October 29, 2014 October 8, 2014 September 15, 2014 August 21, 2014 August 4, 2014 … Continued

Historic Financial Regulatory Reform Bill Signed Into Law President Obama signed the sweeping financial regulatory reform legislation into law Wednesday, marking the close of a nearly two-year legislative effort to bring safety, stability, and a new focus on consumer protection to our financial system. “We commend Congress for passing and President Obama for signing meaningful … Continued

Financial Reform Bill Clears House, But Hurdles Remain Confounding the skeptics, the Conference Committee on financial regulatory reform kept to its schedule and wrapped up consideration of landmark financial regulatory reform legislation in the early hours of the morning Friday, June 25, appearing to set the stage for final passage before the July 4 recess. … Continued

Advocates Push for Senate Vote on Food Safety Bill With only a week remaining before Congress adjourns for its August recess, advocates continue to push for a Senate vote on S. 510, the FDA Modernization Act. The bipartisan bill has been stalled in the Senate for months. In July, President Obama joined those calling on … Continued

SEC Urged to Adopt Pro-Investor Approach to Regulation of Investment Professionals In a comment letter filed with the SEC this week, CFA urged the agency to use its latest study of the obligations of broker-dealers and investment advisers to lay the groundwork for a rational, pro-investor approach to the regulation of these investment professionals. The … Continued

CPSC Adopts Mandatory Baby Bath Seat Safety Standards The Consumer Product Safety Commission issued mandatory safety standards for baby bath seats last week, a move consumer groups praised as “a step in the right direction for addressing some of the design shortcomings that have contributed to many infant drownings” over the years. According to data … Continued

Senate Begins Voting on Financial Reform Following a series of failed cloture votes, the Senate finally began formal consideration of the financial regulatory reform bill (S. 3217) April 29. Voting on amendments did not begin in earnest, however, until the first week in May. In an early test of whether crucial consumer protections would survive, … Continued

Financial Reform Moves into High Gear as Congress Returns As Congress returned from its spring recess last week, efforts to pass comprehensive financial regulatory reform legislation moved into high gear even as bipartisan negotiations ground to a halt. Abandoning efforts to work out a bipartisan agreement before bringing a bill to the floor, Senate Majority … Continued

Senate Banking Gives Financial Reform Quick, Partisan Approval In a move that appears to have taken everyone by surprise, Republican members of the Senate Banking Committee withdrew hundreds of amendments and allowed a quick vote last month on legislation to reform the financial system. As a result, the bill was approved on a party-line vote, … Continued

Dodd Releases Revised Regulatory Reform Bill Senate Banking Committee Chairman Chris Dodd (D-CT) released revised legislation this week to reform the financial system, but without the bipartisan agreement he had hoped to achieve. CFA applauded the decision to move forward which sets the stage for a mark-up of the bill next week. In breaking off … Continued

House Votes To Strip Health Insurance Antitrust Exemption The House of Representatives gave overwhelming bipartisan approval last week to legislation (H.R. 4626) that would strip health insurance companies of their exemption from antitrust laws. CFA Director of InsuranceJ. Robert Hunter has estimated that, if accompanied by thorough investigations of concentration and rigorous enforcement, the measure … Continued