December 17, 2015
Contact: Cindy Hoang, National Consumers League, email@example.com or (202) 207-2832
Washington, DC–The National Consumers League (NCL) is celebrating a victory for American workers and retirees with the recent announcement that Congress has reached an agreement on an omnibus funding bill that supports the Department of Labor’s rulemaking to improve retiree protections. The DOL rule would make financial professionals responsible for meeting basic quality standards by closing loopholes in the Employee Retirement Income Security Act. Financial firms fought bitterly against the rulemaking, but Congress’ Wednesday vote on the funding bill ensures it will take place.
The following statement may be attributed to NCL’s Executive Director Sally Greenberg:
“We applaud Congress’ decision to stand up to special interests and protect the workers and retirees who would have been hurt by this omnibus funding bill had the previous version been passed. These people deserve to feel secure about their lifelong savings and retirement funds.”
About the National Consumers League
The National Consumers League, founded in 1899, is America's pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit www.nclnet.org.