Trump Wants to Do to the Fiduciary Rule What He’s Doing to the Climate

Donald Trump and the Department of Labor are delaying — and possibly killing — the fiduciary rule, which would have required investment managers to put their clients’ interests first instead of directing them to higher-fee options that benefit the money managers themselves. The White House’s Council of Economic Advisors found that the absence of this…

Fiduciary Rule Announced, Challenges Expected

The Department of Labor has published its long-awaited fiduciary rule Labor Secretary Thomas Perez said, With the finalization of this rule, we are putting in place a fundamental principle of consumer protection into the American retirement landscape: A consumer’s best interest must now come before an adviser’s financial interest. This is a huge win for…

Wall Street: Democrats Work To Block New Regulations After Flood Of Campaign Cash

The Obama administration’s efforts to rein in Wall Street face opposition from members of the president’s own party. In June, the Democratic Senatorial Campaign Committee attacked a Republican senator for having “supported repealing Wall Street Reform.” But the DSCC’s chairman, Sen. Jon Tester of Montana, is one of dozens of Democrats in Congress seeking to…