Coalition urges Trump not to dump DOL’s fiduciary rule

Fiduciary advocates are urging the incoming Trump administration to spare the Labor Department’s fiduciary rule, as government lawyers press a Washington judge not to put on hold his recent ruling that upheld the merits of the regulations.

As speculation intensifies that the fiduciary rule could be on the chopping block or significantly curtailed under President Donald Trump and a GOP-controlled Congress, members of the SaveOurRetirement Steering Group — AFL-CIO, AFSCME, Americans for Financial Reform, Better Markets, Consumer Federation of America and the Pension Rights Center — issued a statement telling Trump to “make good on his election talk by supporting the rule — and choosing regular Americans over Wall Street.”