Lawmakers from Each Party Recognized for their Dedication to Preserving Americans’ Access to Affordable, Professional Financial Advice and Enhancing Financial Literacy
The Financial Services Institute (FSI), the leading advocacy organization for the independent financial services industry, today announced that it has named Senator Tim Scott (SC) and Representative Madeleine Dean (PA-04) as its 2021 Congressional Champion for Main Street Award recipients.
In its second year, FSI’s annual award recognizes lawmakers for their continued commitment to advancing the interests of Main Street American investors by defending access to affordable, professional financial advice, products and services.
FSI’s President & CEO, Dale Brown, said, “We are very pleased to recognize Senator Tim Scott and Representative Madeleine Dean as our Congressional Champions for Main Street for 2021. 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. Sen. Scott and Rep. 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.”
Senator Tim Scott
Sen. Scott, who serves on the Senate Banking, Housing and Urban Affairs; Finance; and Health, Education, Labor and Pensions Committees, actively supports the expansion of financial literacy, which he calls “one of the most important ideas we can pass down to our children.” As the ranking member of the Senate Special Committee on Aging, he has fought for the needs of everyday American investors through his leadership on issues such as promoting financial literacy for seniors and retirement security. He is also a strong supporter of SECURE 2.0, which will significantly strengthen Americans’ ability to prepare for retirement. Sen. 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.
“My sincerest thanks to the Financial Services Institute for honoring me with this award,” said Sen. Tim Scott. “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.”
Representative Madeleine Dean
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, Rep. Dean has served as an outspoken champion of financial literacy for all Americans. This year, Rep. Dean authored an amendment permitting remote online notarization, which passed as part of the National Defense Authorization Act. Not only was this legislation critical in providing Americans additional flexibility in executing important life documents during the pandemic, it helped improve underserved and unbanked communities’ access to notary services. Over the past several years, she has worked with non-profits and non-government financial agencies to help Main Street Americans improve their credit scores; along with members of both parties, she has co-sponsored legislation to enhance financial literacy through public-private collaborations; and has regularly participated in events to raise awareness of the need for financial literacy across the country.
“I’m grateful for this award and for the advocacy of the Financial Services Institute,” said Rep. Dean. “Financial literacy is vital for all Americans, and lawmakers have a duty to make services and information more accessible.”
Mr. Brown concluded, “On behalf of our members across the country, we thank Sen. Scott and Rep. Dean for their consistent dedication to representing the needs of Main Street American investors. We look forward to continuing to work with them to promote this vital cause.”
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