The controversial “Retail Investor Protection Act, recently introduced by Rep. Ann Wagner (R-MO), is gaining opposition from coalitions set on protecting investor interests.
Supporters both in the U.S. House and in the financial services community tout the Bill as a way to provide lower-income Americans saving for retirement the availability of financial products and advice at a low cost. However, The Pension Rights Center, along with the AARP, AFL-CIO, Americans for Financial Reform, Consumer Federation of America and Demos have signed a letter urging Congress to abandon the bill all together.
