Files Comments with Treasury Department Underscoring Harmful Impact Proposed Securities & Banking Regulations Will Have on Wealth-Building Opportunities
WASHINGTON – Barbara Comstock, Executive Director of the American Consumer & Investor Institute, has filed comments in response to the U.S. Treasury Department’s request for information on a national plan for financial inclusion. In the comment letter, Comstock pointed to unnecessary, burdensome securities and banking regulations that have been proposed by the Biden administration as impediments to expanding financial opportunities to more Americans.
“A robust, sustainable plan for financial inclusion must be grounded in pro-growth, pro-innovation policies. The raft of proposed regulations on the securities and banking sectors stands in the way of continued progress toward broadening wealth-building opportunities for all Americans, especially those who have been traditionally shut out of the stock market, homeownership, and entrepreneurship,” American Consumer & Investor Institute Executive Director Barbara Comstock wrote in the comment letter. “We are on the cusp of groundbreaking technological advancements that have the potential to drive tremendous economic growth over the long term. We need the right policies in place to capitalize on this moment and ensure the American Dream is well within reach for current and future generations.”
Comstock’s letter follows comments she previously filed with the U.S. Securities and Exchange Commission highlighting the fundamental flaws with the proposed predictive data analytics rule (here) and four rulemakings related to equity market structure for retail investors (here).
Comstock has also co-authored a Wall Street Journal op-ed with former U.S. Attorney General Bill Barr on the predictive data analytics rule, arguing that its “unduly prescriptive, burdensome, and unworkable requirements” will ultimately eliminate tools retail investors rely on to implement investment strategies that work best for them.
Read the full Treasury comment letter here.