What Elizabeth Warren Fails to Understand About Finance
Law professor Todd Zywicki says the primary victims of well-intentioned but paternalistic bureaucrats are the very people they are meant to protect, especially lower-income Americans.
Don’t Let Government Trample Your Retirement Business: Pawlenty
Think Obamacare is bad? Federal intervention in retirement saving would be an “existential” threat to advisors, ex-governor Tim Pawlenty warns.
GOP Blocks SEC User Fees From Spending Bill
House Republicans rejected Rep. Maxine Waters’ attempt to amend an appropriations bill by adding her user-fees legislation to help boost advisor exams.
As Student Debt Hits $1.2 Trillion, Senate to Debate Loan Refinancing Bill
The Senate will debate next week a bill from Sen. Elizabeth Warren, D-Mass., to allow students to refinance their loans.
Sallie Mae Fined $96 Million for Bilking Military on Student Loans
Sallie Mae charged too-high interest rates and denied rate reductions to servicemembers in combat zones over missing paperwork, CFPB says.
Mortgage Debt Threatening Retirees’ Security: CFPB
The percentage of homeowners 65 and older with mortgage debt increased from 22% to 30% from 2001 to 2011, CFPB report says.
Some American Funds Clients Vulnerable to Heartbleed Bug
Parent company Capital Group urged 800,000 customers to change account passwords and other information to protect themselves from risk caused by the Heartbleed computer bug.
New Hire Roundup: BrightScope Names Riggio Its First Chief Revenue Officer
Also, Pacific Life announced changes in its sales organization, and Edmond Markel joined Hennion & Walsh.
SEC, FINRA, CFPB Enforcement: BofA Busted for Illegal Credit Card Practices
In other actions, Hewlett-Packard will have to pay $108 million to settle SEC and DOJ charges of FCPA violations.
New Hire Roundup: Charlson to Head Morningstar Alternative Funds Research
Meanwhile, the American Benefits Council names new board members and officers, and CFPB adds experts to senior posts.