A resolution to block the Department of Labor from implementing its finalized fiduciary rule passed out of the House Education and the Workforce Committee on a party-line vote.
Rep. Bobby Scott, D-Virginia, ranking member of the Committee and one of the 14 Democrats to vote no on the resolution, said the markup session to pass the resolution was rushed, and claimed it was the shortest time span ever between a regulation's finalization and the initiation of a resolution to stop it, citing the Congressional Research Services.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
