WASHINGTON – Today, after the Department of Labor (DOL) announced that the Fiduciary Rule would be delayed until June 9, in order to provide DOL additional time to determine if the rule would negatively affect investors, Congressman French Hill (AR-02) stated:
“As someone who has spent decades in the financial services industry, I know the importance of providing all consumers—regardless of income—the opportunity to seek sound financial advice. The DOL’s Fiduciary Rule would greatly diminish access to professional retirement planning and guidance for those who need it the most. This is why a broad, bipartisan majority in Congress has called for the rule to be scrapped as written. The ‘Washington-knows-best’ strategy in the ‘war on savings’ employed by the last administration has come to an end, and it is being replaced with a new regulatory environment that works to create more opportunity for investment choices and lowers costs for consumers.”
