Posts tagged Cynthia Lummis
Teachers’ union AFT slams crypto market bill, warns of ‘profound risks’ for America’s retirement plans
December 11, 2025 // The American Federation of Teachers, the powerful labor union that represents 1.8 million members, is urging the Senate Banking Committee to reconsider its crypto market structure bill, the Responsible Financial Innovation Act, calling the proposed legislation “as irresponsible as it is reckless” in a letter exclusively obtained by CNBC. In the letter that AFT president Randi Weingarten sent to Senate Banking Committee Chairman Tim Scott (R-SC) and Ranking Member Elizabeth Warren (D-Mass.), she wrote the union opposes the bill based on the “profound risks to the pensions of working families and the overall stability of the economy.”
Fitzgerald, Lummis Introduce STUDENT Act to Curb Out-of-Control NEA
July 24, 2025 // Although it was originally incorporated in the District of Columbia in 1886, Congress granted the NEA a federal charter in 1906. Today, it is one of only 95 federally chartered “patriotic and national” organizations such as the Boy Scouts, the U.S. Olympic Committee, and the VFW. The NEA is the only labor union with a federal charter and the only federally chartered organization to engage in extensive political advocacy. While repealing the NEA’s charter would rightly signal congressional disapproval for the organization as it exists today, the STUDENT Act would amend the NEA’s charter to require practical changes in the union’s operations.
Sen. Braun Introduce Bill To Maximize Americans’ Retirement Funds
November 25, 2022 // Amends the Employee Retirement Income Security Act (ERISA) to require plan fiduciaries to select investments solely on pecuniary factors. If a fiduciary cannot distinguish between investments on pecuniary factors alone they may use non-pecuniary factors, but must provide participants reasoning for their decision. Pecuniary factors are defined as any factors that a fiduciary prudently determines is expected to have a material effect on the risk or return of an investment. fiduciary duty of plan administrators, ESG (environmental, social and governance) funds,