CFA criticizes 3 industry arguments against proposed DOL fiduciary rule

The Consumer Federation of America has targeted 3 arguments made by the financial industry against the proposed DOL fiduciary standard.

By Marlene Y. Satter | Updated on August 12, 2015

The Consumer Federation of America has come out swinging in favor of the Department of Labor’s proposed fiduciary rule.

In its latest foray, CFA has targeted three separate arguments made by the financial industry against the proposed rules, saying that rule makers can “safely ignore” them “as the last gasp efforts of industry to maintain a status quo that has been hugely profitable for them, but far less beneficial for the working families and retirees who struggle to afford a secure and independent retirement.”

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