Corporate greed in action:

Tony Romm: #Insurance #lobbyists block federal crackdown on costly retirement advice: The financial services industry has blocked the Biden administration from requiring brokers to put retirees’ needs first — above lucrative commissions.

"To protect older Americans’ life savings, President Joe Biden pledged in October to crack down on financial advisers who recommend investments just because they pay higher commissions. Then the insurance industry got to work.

Lobbying groups representing New York Life, Lincoln Financial Group, Prudential Financial and other companies first pushed back against the newly proposed regulations before suing to topple them entirely. Now the government’s latest attempt to protect retirees is in political and legal limbo, facing the possibility that it may never take effect."

#newyorklife #lincolnfinancial #prudentialfinancial #CorporateGreed
https://www.washingtonpost.com/business/2024/08/11/insurance-lobbyists-block-fiduciary-rule/

Prudential Financial has revealed they were a victim of a data breach. The breach happened on Feb 4 and was detected on Feb 5. The attackers were able to steal employee and contractor data, and includes name, address, data of birth, phone number, and social security number. Affected employees and contractors are advised to be vigilant of phishing attempts, and to get credit monitoring.

#cybersecurity #PrudentialFinancial #databreach #USA

https://www.bleepingcomputer.com/news/security/prudential-financial-breached-in-data-theft-cyberattack/