Friday, June 09, 2017

Labor Department falters on fiduciary rule

The Hill reports:
While the political chattering class spent a recent news cycle criticizing a typo from a presidential tweet, the Trump administration’s Department of Labor actually made a meaningful policy error that will affect the lives of millions of Americans. The recent decision by DOL to move forward with implementation of the costly Obama-era “fiduciary rule” will hurt average investors and is a far cry from fulfilling the campaign promise to protect low-cost savings tools.
Regulation means less competition.