New Survey: Investors Want Strong Wall Street Oversight

by Wall Street Fraud on July 26, 2012

pennsylvania securities fraud attorneyAmericans strongly support stronger oversight of Wall Street, including brokers and advisers, in the wake of the financial crisis, according to a new survey commissioned by AARP. Three out of four U.S. voters strongly support federal reforms made by agencies like the U.S. Consumer Financial Protection Bureau (CFPB).

To arrive at the results, researchers queried 803 respondents who were drawn randomly from a file of likely November 2012 voters. The data were weighted by age, race, education level and party identification to reflect the likely 2012 electorate.

Below are several other key findings:

  • Those surveyed indicated they favor the Dodd-Frank financial reform law by a 53-point margin (73% to 20%).
  • Support for the reforms crosses party lines, with Republicans in favor by a 20-point margin, independents by a 50-point margin and Democrats by an 83-point margin.
  • An overwhelming two-thirds of the respondents—including 78% of Republicans—support a state's right to pass and enforce stronger consumer protections and preventing federal law from overriding them.
  • Respondents support formation of the CFPB by a 40-point margin. Sixty-six percent of voters overall and 69% of independents indicated that the CFPB is much needed.

Cristina Martin-Firvida, director of Financial Security and Consumer Affairs for the AARP, said that before the Dodd-Frank Act was enacted, many older Americans lost their savings due to a weak and outdated financial regulatory system. Accordingly, the survey highlights that the 50-plus population supports the protections provided by the financial reforms so that more accountability will be provided to adequately protect their financial assets.

Source: FA-Mag.com

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If you have been the victim of stock brokerage fraud, securities fraud, mutual fund fraud, stockbroker fraud, annuities fraud, or any other type of investment fraud or negligence, please contact our securities fraud attorneys today for a free case evaluation. Our talented and aggressive legal and professional staff is eager to help you recover your losses.

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