Lawmaker Introduces Bill to Delay Fiduciary Rule
January 7, 2017 by John Hilton
Rep. Joe Wilson, R-S.C., introduced a bill today that would delay the Department of Labor’s fiduciary rule effective date by two years.
Wilson’s Protecting American Families’ Retirement Advice Act calls the DOL rule “one of the most costly, burdensome regulations to come from the Obama Administration. Rather than making retirement advice and financial stability more accessible for American families, they have disrupted the client fiduciary relationship, increased costs, and limited access.”
The rule is slated to take effect April 10. Delay is one of the most immediate and simplest options available to Republicans while they work on long-range efforts to repeal the rule.
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