Political Quotes

On the recordJune 8, 2017
Senior citizens, beware of the Financial CHOICE Act. This bill repeals the best interest rule, which ensures that Americans that are saving for retirement get financial advice in their best interest. Bad advice has real costs. Steven, a 69-year-old Vietnam veteran in Illinois, lost $147,000 in retirement savings when he got advice that handsomely profited his so-called investment adviser but devastated him. This bill guts the Consumer Financial Protection Bureau, which prevents financial exploitation of senior citizens. In December, the CFPB took an action against three crooked reverse mortgage companies that deliberately failed to tell seniors that they could lose their homes. The Financial CHOICE Act is dangerous. It is dangerous for older Americans, it is dangerous for all Americans, and it is dangerous for our entire economy. It puts us all at risk. It is the wrong choice for America, and I urge my colleagues to vote ``no.''
Said by
Janice Schakowsky
Democratic · Illinois

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