CONGRESS FIGHTING CORRUPTION IN WALL STREET

An anti-corruption bill that Public Citizen worked closely with congressional lawmakers to draft is now a major issue in the presidential election.

Hillary Clinton is for it.

Bernie Sanders is for it.

Martin O’Malley is for it.

It’s the Financial Services Conflict of Interest Act (S. 1779, H.R. 3065), and it would block corruption by jamming the “revolving door” between Wall Street and agencies that are supposed to regulate Wall Street.

Your members of Congress should be for it too. Urge your representative and senators to co-sponsor the bill.

Even if you’ve already emailed your congressmembers about this issue, it will help if you email them again.

In a recent speech, Jeb Bush also voiced support for revolving-door reforms.

The Financial Services Conflict of Interest Act would block the revolving door by:

• Banning corporations from offering special “golden parachute” bonuses to CEOs or other employees who take jobs at federal regulatory agencies that oversee the same companies.

• Prohibiting senior staff of federal regulators from taking any official action that directly and substantially benefits a corporation or client they worked for in the past two years — or any corporation where they seek future employment.

• Requiring any financial sector regulator to wait two years after leaving public service before taking a corporate lobbying job or even assisting in a lobbying campaign.

Senator Elizabeth Warren has noted that the Financial Services Conflict of Interest Act is “a bill any presidential candidate should be able to cheer for.”

Let’s make sure the lawmakers who are currently in office and are able to make a difference right now are cheering too.

Tell your members of Congress: Support the Financial Services Conflict of Interest Act.

Thanks for taking action!

Onward,

Robert Weissman
President, Public Citizen