One financial reform impasse – House wants law to require agents “to act in the best interests of their clients and disclose conflicts of interest”. Senate wants to study it.
Seriously. The Senate wants to have a study to see if telling the truth should be the law.
“This is a highly contentious issue with fierce industry opposition,” Denise Voigt Crawford, Texas securities commissioner and president of the North American Securities Administrators Association, said in a statement.
“I believe the public and many members of Congress understand the logic of our argument,” she said. “But on the Hill, we are competing against a well-funded army of lobbyists.”