The Financial Services Institute (FSI) today announced it has named Sen. Tim Scott (R-S.C.) and Rep. Madeleine Dean (D-Pa.) as its 2021 “Congressional Champion for Main Street” award recipients in recognition of their dedication to preserving Americans’ access to “affordable and professional financial advice” and for advancing financial literacy.
"As we face continued economic uncertainty due to the ongoing pandemic, volatility in global supply chains and unpredictable swings in consumer sentiment, Main Street Americans need sound financial advice more than ever before,” FSI President and CEO Dale Brown said.
SScott and Dean “have fought tirelessly to ensure that hard-working Americans have the access they need to trusted financial professionals who can help them achieve their vital financial goals. These awards are richly deserved, and we greatly appreciate their contributions,” Brown said.
Scott is a “strong supporter” of SECURE 2.0, which will significantly strengthen Americans’ ability to prepare for retirement, said FSI, which represents the independent broker-dealer industry.
As the ranking member of the Senate Special Committee on Aging, Scott “also fought for the needs of everyday American investors through his leadership on issues such as promoting financial literacy for seniors and retirement security,” FSI said.
To that end, Scott introduced a resolution declaring April as Financial Literacy Month and has “actively discussed the potential unintended consequences of the PRO Act and how it would diminish access to affordable independent financial advice for Americans,” FSI said.
“My Opportunity Agenda is centered on ensuring every American has access to the resources necessary to create a better future for themselves and their children. Whether for small business owners, single moms, entry-level workers, or seniors on a fixed income, it has never been more important to do all we can to expand access to the American Dream. I look forward to continuing my work in the Senate to make sure that’s a reality,” Scott said.
The second-term senator from Florida called the expansion of financial literacy “one of the most important ideas we can pass down to our children.”
Through her work on the House Committee on Financial Services, its subcommittee on Diversity and Inclusion and as the Vice Chair of the Judiciary Committee, Dean has served as an “outspoken champion of financial literacy for all Americans,” FSI said.
This year, Dean authored an amendment permitting remote online notarization, which passed as part of the National Defense Authorization Act.