Warren Urges Labor Department to Finalize Retirement Rule to Curb Special Favors for Corporate Criminals

Press Release

"Finalizing this amendment is an opportunity to send a clear message that powerful financial institutions should not be granted special favors and allowed to manage workers' retirement accounts if they engage in criminal actions. I urge you to act quickly to finalize the proposed amendment to the QPAM Exemption and put in place strong protections to prevent corporate recidivism.

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The delay appears to be inconsistent with EBSA's proposed amendment that should hold big banks accountable for their actions. Instead, I am troubled that EBSA may be continuing to grant favors to the financial industry -- which provided no adequate rationale for their requests -- by extending the comment period to allow for the special consideration of corporate interests in the rule-making process."

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