John,
It’s long past time to ban members of Congress from owning and trading stocks while in office.
CREW has advocated for this reform for years—but in recent months, the pressure has really been building. Recent reports show that literally dozens of members of Congress have failed to report stock trades in the required timeframe over the last year alone. Some of them were months late in reporting transactions.
That’s why disclosure alone is not enough. After all, members can still own and trade stocks of companies that are affected by the committees they sit on, where they can influence regulations or learn information that the rest of the public doesn’t know. Even if those trades are disclosed, members of Congress can still have a serious conflict of interest.
That’s why this week we sent a letter to Speaker of the House Nancy Pelosi, calling on her to support a ban on Congressional stock trading.
Pelosi could support bills like the Ban Congressional Stock Trading Act, the TRUST in Congress Act, the Anti-Corruption and Public Integrity Act and the HUMBLE Act, all of which would strengthen the existing rules around stock trading by members of Congress.
This past fall, the Federal Reserve acted quickly to tighten rules for top officials, including a ban on owning individual stocks and bonds and stronger restrictions on other trading activities, following a scandal involving stock trading by regional bank officials. Congress has yet to act quickly to police itself—but it’s not too late.
If you agree, share our letter on Facebook, Twitter, or by forwarding this email. People speaking up and calling for a ban have already led to progress—27 members of Congress recently sent a letter demanding action, and momentum is building. Together, we can make this happen.
Thank you,
The CREW Team
