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Retail Investor Protection Act (H.R. 2374; 113th Congress)
The Retail Investor Protection Act () is a bill that would delay some pending regulations being written by the United States Department of Labor until the Securities and Exchange Commission has finalized their own rules. The rules in question are rules that would describe "when financial advisors are considered a fiduciary, which means they must work in their clients' best interest." The bill passed the United States House of Representatives during the 113th United States Congress. Provisions of the bill ''This summary is based largely on the summary provided by the Congressional Research Service, a public domain source.'' The Retail Investor Protection Act would prohibit the United States Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing stand ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ann Wagner
Ann Louise Wagner (née Trousdale, September 13, 1962) is an American politician and diplomat serving as the U.S. representative for Missouri's 2nd congressional district. A member of the Republican Party, she was the United States ambassador to Luxembourg from 2005 to 2009. Her district, based in St. Louis County, is heavily suburban and the state's wealthiest. It includes most of St. Louis's southern and western suburbs as well as some of the northern exurbs in St. Charles County and the northern part of Jefferson County. Before her diplomatic post, Wagner chaired the Missouri Republican Party from 1999 until 2005; she co-chaired the Republican National Committee for four years, starting in 2001. Early life and education Wagner was born and raised in St. Louis. Her parents owned two carpet stores where she worked growing up. She attended Cor Jesu Academy, a private Catholic all-girls school in South County, and graduated from the University of Missouri in 1984 with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Secretary Of Labor
The United States Secretary of Labor is a member of the Cabinet of the United States, and as the head of the United States Department of Labor, controls the department, and enforces and suggests laws involving unions, the workplace, and all other issues involving any form of business-person controversies. Formerly, there was a Department of Commerce and Labor. That department split into two in 1913. The Department of Commerce is headed by the secretary of commerce. Secretary of Labor is a Level I position in the Executive Schedule, thus earning a salary of US$221,400, as of January 2021. Marty Walsh has been Secretary since being sworn in on March 23, 2021. He was confirmed the previous day by the Senate as the last member of Joe Biden's cabinet, after being nominated by President Joe Biden on January 7, 2021. List of secretaries of labor ; Parties (13) (16) Status Line of succession The line of succession for the Secretary of Labor is as follows: # Deputy S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eric Cantor
Eric Ivan Cantor (born June 6, 1963) is an American lawyer and former politician who represented Virginia's 7th congressional district in the United States House of Representatives from 2001 to 2014. A Republican, Cantor served as House Minority Whip from 2009 to 2011, and as House Majority Leader from 2011 to 2014. Prior to serving in the House of Representatives, Cantor represented the 73rd district in the Virginia House of Delegates. His congressional district included most of the northern and western sections of Richmond, along with most of Richmond's western suburbs, and until redistricting in 2013 also portions of the Shenandoah Valley. In June 2014, in his bid for reelection, Cantor lost the Republican primary to economics professor Dave Brat in an upset that greatly surprised political analysts. In response, Cantor announced his early resignation as House Majority Leader. Several weeks later, he announced his resignation from Congress, which took effect on August 18, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension Rights Center
The Pension Rights Center is a nonprofit consumer advocacy organization established in 1976. Its stated mission is "to protect and promote the retirement security of American workers, retirees and their families." Background Karen Ferguson became a consultant for the United Mine Workers of America where she learned that corporate interest groups planned to undermine the new Employee Retirement Income Security Act of 1974. She told Ralph Nader about the issue and he gave her $10,000 to fight for the rights of pensioners. With the money from Nader, Ferguson founded the Pension Rights Center in 1976. Nader later contributed another $30,000. The center is a nonprofit consumer advocacy organization established to protect the pensions of retirees. The Center provides information, referrals, and legal assistance to individuals, provides legal training to attorneys, and advocates on policy issues related to retirement income from a workers' and consumers' perspective. Since 1993, the C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
AFL–CIO
The American Federation of Labor and Congress of Industrial Organizations (AFL–CIO) is the largest federation of unions in the United States. It is made up of 56 national and international unions, together representing more than 12 million active and retired workers. The AFL–CIO engages in substantial political spending and activism, typically in support of progressive and pro-labor policies. The AFL–CIO was formed in 1955 when the American Federation of Labor and the Congress of Industrial Organizations merged after a long estrangement. Union membership in the US peaked in 1979, when the AFL–CIO's affiliated unions had nearly twenty million members. From 1955 until 2005, the AFL–CIO's member unions represented nearly all unionized workers in the United States. Several large unions split away from AFL–CIO and formed the rival Change to Win Federation in 2005, although a number of those unions have since re-affiliated, and many locals of Change to Win are either p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barack Obama
Barack Hussein Obama II ( ; born August 4, 1961) is an American politician who served as the 44th president of the United States from 2009 to 2017. A member of the Democratic Party (United States), Democratic Party, Obama was the first African-American president of the United States. He previously served as a U.S. senator from Illinois from 2005 to 2008 and as an Illinois state senator from 1997 to 2004, and previously worked as a civil rights lawyer before entering politics. Obama was born in Honolulu, Hawaii. After graduating from Columbia University in 1983, he worked as a Community organizing, community organizer in Chicago. In 1988, he enrolled in Harvard Law School, where he was the first black president of the ''Harvard Law Review''. After graduating, he became a civil rights attorney and an academic, teaching constitutional law at the University of Chicago Law School from 1992 to 2004. Turning to elective politics, he Illinois Senate career of Barack Obama, repre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President Of The United States
The president of the United States (POTUS) is the head of state and head of government of the United States of America. The president directs the Federal government of the United States#Executive branch, executive branch of the Federal government of the United States, federal government and is the Powers of the president of the United States#Commander-in-chief, commander-in-chief of the United States Armed Forces. The power of the presidency has grown substantially since the first president, George Washington, took office in 1789. While presidential power has ebbed and flowed over time, the presidency has played an increasingly strong role in American political life since the beginning of the 20th century, with a notable expansion during the presidency of Franklin D. Roosevelt. In contemporary times, the president is also looked upon as one of the world's most powerful political figures as the leader of the only remaining global superpower. As the leader of the nation with t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Senate
The United States Senate is the upper chamber of the United States Congress, with the House of Representatives being the lower chamber. Together they compose the national bicameral legislature of the United States. The composition and powers of the Senate are established by Article One of the United States Constitution. The Senate is composed of senators, each of whom represents a single state in its entirety. Each of the 50 states is equally represented by two senators who serve staggered terms of six years, for a total of 100 senators. The vice president of the United States serves as presiding officer and president of the Senate by virtue of that office, despite not being a senator, and has a vote only if the Senate is equally divided. In the vice president's absence, the president pro tempore, who is traditionally the senior member of the party holding a majority of seats, presides over the Senate. As the upper chamber of Congress, the Senate has several powers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unfunded Mandate
In the United States, federal mandates are orders that induce "responsibility, action, procedure or anything else that is imposed by constitutional, administrative, executive, or judicial action" for state and local governments and/or the private sector. An unfunded mandate is a statute or regulation that requires a state or local government to perform certain actions, with no money provided for fulfilling the requirements. Public individuals or organizations can also be required to fulfill public mandates. As of 1992, 172 federal mandates obligated state or local governments to fund programs to some extent.Dilger, Robert J., and Richard S. Beth. Unfunded Mandates Reform Act: History, Impact, and Issues. Publication no. 7-5700. Congressional Research Service, 2012. Print. Beginning with the Civil Rights Act of 1957 and the Civil Rights Act of 1964, as well as the Voting Rights Act of 1965, the United States federal government has designed laws that require state and local government ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Benefits Security Administration
The Employee Benefits Security Administration (EBSA) is an agency of the United States Department of Labor responsible for administering, regulating and enforcing the provisions of Title I of the Employee Retirement Income Security Act of 1974 (ERISA). At the time of its name change in February 2003, EBSA was known as the Pension and Welfare Benefits Administration (PWBA). Prior to January 1986, PWBA was known as the Pension and Welfare Benefits Program. Leadership EBSA is led by the Assistant Secretary of Labor for Employee Benefits Security, a Sub-Cabinet-level position requiring nomination by the President of the United States and confirmation by the United States Senate. The office is currently held by Lisa Gomez, who was sworn in as Assistant Secretary on October 11, 2022. The previous Assistant Secretary of Labor for Employee Benefits Security and head of the Employee Benefits Security Administration was Preston Rutledge. Past Assistant Secretaries include Phyllis B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Congressional Budget Office
The Congressional Budget Office (CBO) is a federal agency within the legislative branch of the United States government that provides budget and economic information to Congress. Inspired by California's Legislative Analyst's Office that manages the state budget in a strictly nonpartisan fashion, the CBO was created as a nonpartisan agency by the Congressional Budget and Impoundment Control Act of 1974. Whereas politicians on both sides of the aisle have criticized the CBO when its estimates have been politically inconvenient, economists and other academics overwhelmingly reject that the CBO is partisan or that it fails to produce credible forecasts. There is a consensus among economists that "adjusting for legal restrictions on what the CBO can assume about future legislation and events, the CBO has historically issued credible forecasts of the effects of both Democratic and Republican legislative proposals." History The Congressional Budget Office was created by Title II of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Adviser
A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory body in order to provide advice. In the United States, a financial adviser carries a Series 7 and Series 66 or Series 65 qualification examination. According to the U.S. Financial Industry Regulatory Authority (FINRA), qualification designations and compliance issues must be reported for public view. Details of formal compliance issues can be found on thInvestment Adviser Public Disclosure(IAPD) website and details of non-formal issues can be found oOnesta FINRA specifies the following groups who may use the term ''financial advisor:'' brokers, investment advisers, private bankers, accountants, lawyers, insurance agents and financial planners. Financial advisors need to be able to take the full picture of the client's financial sit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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