Among the business sectors largely absent from the current deluge of sexual harassment revelations is the financial services industry, a behemoth that employs 3.2 million people in the United States and is infamous for abuse and discrimination targeting women. In my story for The Intercept, I talk about women’s fate in finance and the reasons that most stay quiet. You can read it here.
Donald Trump promised he would “do a number” on financial regulations, and it looks like he may finally get his wish fulfilled at the Consumer Financial Protection Bureau. The agency, created by Dodd-Frank, has returned $11.9 billion to 29 million consumers in its short 5 1/2 year history.
Wall Street’s well-paid surrogates in Congress have been beating up the CFPB and its director, Richard Cordray, at every opportunity. But the CFPB nonetheless carried on with its task of cracking down on sleazy payday lenders and sneaky banks that charged for services that customers never got. Now, though, Cordray has said he’s resigning at the end of the month, giving Trump a chance to replace him. The president’s temporary pick, White House budget director Mick Mulvaney, once said “I don’t like the fact that the CFPB exists.” You get the idea.
Gary Rivlin and I took a look at the agency’s accomplishments — and at its foes well-funded attacks — in a piece for The Intercept. You can read it here.
Michael Hiltzik spoke with me for his story about the Harvey Weinstein sexual harassment scandal. You can read it here.
WNYC’s Richard Hake spoke with me about the Harvey Weinstein sexual harassment scandal and how it relates to my work on sexual harassment on Wall Street. You can hear the interview here.
The National Federation of Press Women said that I’ve won first place for business writing in its 2017 National Communications Contest.
From the judges: “This writer goes beyond merely simplifying the facts in public documents: the writer shows knowledge and confidence in pressing federal prosecutors and the securities industry self-regulating body with tough questions; the writer shows that sow action against securities “scammers” has a human cost.”
ONE OF THE most important investor protections in decades took effect on June 9. The new rule, issued by the Department of Labor, sets in motion a seemingly commonsense requirement that those who advise on retirement investments must put their clients’ interests ahead of their own. Yet it marks a revolution in retirement security, the result of an epic seven-year battle between consumer advocates and the financial industry that sunk millions of dollars into white shoe lobbying firms, industry-sponsored studies, congressional campaign contributions, and major lawsuits in an effort to block the rule.
You can read my story about the DOL’s fiduciary rule in The Intercept here.
The National Society of Newspaper Columnists said I received its third place award in its 2017 competition in the online commentary category for my columns for TheStreet.com. From the judges: “Antilla’s sharp critiques of overlooked sins in the business world reveal the dysfunctional and villainy beyond the big stories that take hold during ever-briefer news cycles. Her careful research lays bare the institutional flaws and illuminates the direction the public’s attention should be pointed next.”
I’m honored to have been selected by the Consumer Federation of America for its 2017 Betty Furness Media Service Award. Past winners include Don Hewitt, Jane Bryant Quinn, Marketplace, Frontline.
Do you keep an eye on activity in your brokerage account? Well, you should. Criminals are figuring out clever ways to dupe your stockbroker into wiring money out of your account. It usually happens after someone has hacked your email account, so it’s not a bad idea to consider using two-factor authorization on your email. If that sounds like too much of a hassle, you might consider reading the story I wrote today for CNBC.com. You can read it here.
The Society of the Silurians said today that I’ve won its Excellence in Journalism award in the commentary category for the columns I wrote for TheStreet.com in 2016. You can read a list of all the winners here.
My columns in 2016 for TheStreet earned second place today for a National Headliners award in business commentary. You can read the list of all the winners here.
The Connecticut Press Club has selected my stories on penny stock fraud for first place in the Business Writing category of its annual Communications Contest. The stories looked at an elaborate, years-long scam in which small investors — often elderly — were targeted for worthless, manipulated securities. You can read the winning entries here and here.
Gender discrimination on Wall Street is an issue even when it comes to punishing employees for misconduct.
Three finance professors said in a new research paper that although the average male financial advisor engages in three times more misconduct than female advisors, females are punished more severely and are less likely to find employment if they lose their jobs. You can read my story about it on CNBC.com here.
Lawyers and academics who specialize in gender discrimination say the documents recently released in a class-action against Sterling Jewelers provide a rare insight into how a company’s policies work in real life. In my article in The New York Times today, I examine the problems with not-so-confidential tip lines and in-house courts run by employers, and the ways they can mask problems that women often face in the workplace. You can read it here.
Former Uber engineer Susan Fowler sure got our attention with her 3,000-word essay about the brushoff she got from Human Resources when she reported sexual harassment. Her blog post went viral and Uber went into crisis mode, apologizing to employees and hiring big-gun former U.S. Attorney Eric Holder to do an investigation
Some women get stuck in a frustrating he-said-she-said when they report harassment to HR, but Fowler said in her essay that she came armed with evidence. What more is there to say when you show up with screenshots of chat sessions that memorialize your boss’s come-ons?
Open-and-shut case? Not exactly. Fowler says they told her it was all just an “innocent mistake.” Yes, really. I wrote about it today for CNN.com. Here’s a link.