House GOP Guns For DOL Fiduciary Rule
January 10, 2017 | Tracey Longo | Financial Advisor
GOP leaders, fresh off their tax reform victory, are banking on Washington’s anti-regulation climate to help them pass a rider in a House spending bill that would completely vacate the U.S. Department of Labor’s fiduciary rule.
The rider to kill the rule has been attached to spending bills for several years, but it’s been successfully struck down by Democrats. There is conjecture among some pundits and lobbyists, however, that this year could be different.
“This is more of an uphill climb to keep the retirement saver protection in place this year because of the regulatory climate,” said Maureen Thompson, the vice president of public policy at the CFP Board of Standards.