- Best Practices
- Fiduciary September
- Campaign for Investors
You’re on your own now
On December 26, 2017
The Consumer Financial Protection Bureau has undergone a bit of a makeover. It’s no longer actually meant to regulate the financial services industry as it pertains to the treatment of Main Street – it has been transformed into an advocacy for the banks, credit card issuers, insurance companies, mortgage originators and brokerage firms against what it sees as overzealous regulation and job-killing oversight.
“Trump budget director Mick Mulvaney, a month into his job moonlighting as head the CFPB, has rewritten the consumer watchdog’s mission statement. In a nutshell, the regulatory agency is now a deregulatory agency. Here’s the before and after:
Then: “The CFPB is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives.”
Now: “The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives.”
The Institute for the Fiduciary Standard
Welcome to the Institute for the Fiduciary Standard!The Institute is a nonprofit formed in 2011 to benefit investors and society through its research, education and advocacy of the fiduciary standard's importance to investors, our capital markets and economy. Six key fiduciary duties embody the fundamental elements of an investment fiduciary’s responsibility. Read More
Why an InstituteThe rationale for an Institute for the Fiduciary Standard is straightforward: The fiduciary standard is important, representing ideas central to our form of government and free market economy; it is under significant pressures from market forces that could sharply limit its reach; no other entity is solely focused on preserving and promoting the fiduciary standard. More...