Rep. Ann Wagner's bill to repeal the Labor Department's fiduciary rule, the Protecting Advice for Small Savers Act of 2017, H.R. 3857, passed out of the House Financial Services Committee on Thursday.
The bill, which passed by a vote of 34-26, now goes to the House.
Wagner, R-Mo., introduced her bill, which keeps fiduciary rulemaking under the Securities and Exchange Commission's jurisdiction, on Sept. 27.
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