Roundtable Roundup is FSR’s public-facing newsletter featuring the latest insights on financial services issues on Capitol Hill, action in the Dodd Frank regulatory space and updates on FSR events.
- Save10 Promotes Retirement Savings through ‘Save a Chunk’ and ‘Save a Slice’ Pizza and Cookie Events
- FSR Urges Congress to Use Legislative Authority to Ensure Retirement Savers Aren’t Harmed by DoL Fiduciary Proposal
Save10 Promotes Retirement Savings through ‘Save a Chunk’ and ‘Save a Slice’ Pizza and Cookie Events
FSR’s Save 10 initiative gave away hundreds of slices of pizza and cookies this week to help encourage more Americans to begin saving at least 10 percent of their income toward retirement.
(Can’t see images? Click in the upper right corner of this email.)
Save 10 promoted these savings events in partnership with restaurants Captain Cookie on the George Washington University campus and the DC Slices Pizza Truck in Farragut Square.
These events also promoted the “Save 10 Stories” nationwide video contest that is encouraging people to think about saving by creating a video that highlights reasons “Who, When, Why or How” everyone should save 10 percent of their income toward retirement.
The Save 10 Stories contest includes a grand prize of $10,000 and nine first place $1,000 prizes.
To submit a Save 10 video, read the contest rules and learn more about the Save 10 initiative, visit www.Save10.org.
FSR, US Treasury Team Up To Talk About myRA, Save10 Retirement Initiatives
FSR EVP of Government Affairs Francis Creighton and Greg Till, a top official with the U.S. Treasury who oversee the myRA program, cohosted a livestream event this week to discuss how big idea savings programs can improve retirement savings.
FSR Urges Congress to Use Legislative Authority to Ensure Retirement Savers Aren’t Harmed by DoL Fiduciary Proposal
FSR submitted a statement for the record this week highlighting the financial services industry’s significant concerns with the Department of Labor’s proposed fiduciary rule, which will restrict low and middle class Americans’ access to financial advice and retirement planning education.
In a statement submitted to the House Education and Workforce Subcommittee on Health, Employment, Labor and Pensions, FSR voiced support for the alternative legislative principles circulated by Chairman Roe, Rep. Neal, Rep. Roskam, Rep. Lujan Grisham and a group of bipartisan House members, which lay the groundwork for a more bipartisan, long-term solution that won’t be as likely to harm low and middle income Americans or small businesses.
FSR: Irresponsible to Change the Fed’s Capital Structure Without Study
Funding the highway bill by changing the Federal Reserve’s capital structure without proper study could have unintended consequences and it will make it harder for banks to help families buy a home, students to attend college and small businesses to grow.
FSR CEO Tim Pawlenty called the move, which passed Congress this week, a “back-door tax increase that will make it harder for banks to provide financing to small businesses that want to grow.”
“Changing the Federal Reserve’s long-standing capital structure without proper study is irresponsible and it sets a negative precedent,” said FSR CEO Tim Pawlenty. “This back-door tax increase will make it harder for banks to provide financing to small businesses that want to grow and add employees or to provide help to families buying a first home — all at a time when the economy remains fragile.”
219 International Banks Register for a total of 512 .BANK Domains
fTLD Director Craig Schwartz writes in a blog this week that new data shows 219 banks outside of the U.S. have registered a total of 512 .BANK domain names, representing 11 percent of the 5,602 registrations approved through October 31, 2015.
Here are the top five countries outside the U.S. registering .BANK domain names:
1. South Africa = 62
2. Great Britain = 48
3. Greece = 45
4. Spain = 41
5. Germany = 37
The .BANK Internet web extension is one of nearly 1,000 web extensions such as .FAMILY and .REALTY that became available in 2015, catering to more niche industries and interests. At the ICANN 54 meeting held in Dublin this past October, industry experts recognized and applauded fTLD Registry Services for its operations of .BANK, which requires that the purchaser’s eligibility to register is verified before the domain name is awarded. It also requires enhanced security designed to protect banks, their customers and Internet users.
Blog: Put Yourself on Your Holiday List This Year
I know it sounds selfish, but let me explain, blogs FSR VP of Communications Alison Hawkins.
I love shopping for my friends, family and two munchkins at Christmas, but this year we should put ourselves back on our holiday lists. That doesn’t mean picking up an extra scarf for yourself. It means starting to think about and saving for your future and doing it smarter rather than harder.
Rep. Elise Stefanik (R-NY), who is the youngest member of Congress, recently spoke at an event on Capitol Hill along with the Save 10 initiative about the importance of starting to save for retirement at a young age.
She noted that in 2014, U.S. adults had a savings rate of negative two percent. This startling statistic is one reason why Save 10, an initiative backed by many of America’s best employers, is working to make saving simpler and more ingrained into how employers operate.