The House Financial Services Committee today advanced eight ABA-backed regulatory reform bills, including several that ABA and the state bankers associations have long championed as part of ABA’s Blueprint for Growth.
Browsing: Fiduciary rule
In advance of the House Financial Services Committee’s plans to vote on several regulatory reform bills tomorrow and Friday, ABA today sent a memo to committee members outlining the association’s support for 10 bills on the agenda.
With the Department of Labor’s fiduciary rule now in effect, ABA today released a new members-only guide to help banks understand the rule’s implications for their marketing and sales activity.
The Department of Labor today proposed to extend to July 1, 2019, the applicability date for certain exemptions to the fiduciary rule.
In a notice of administrative action filed in an ongoing lawsuit with the wealth management firm Thrivent Financial, the Department of Labor said that it has submitted a proposal to the Office of Management and Budget to extend to July 1, 2019, the applicability date for certain exemptions to the fiduciary rule.
The Department of Labor’s final fiduciary rule is “deeply flawed in several critical areas” that prevent it from functioning properly, ABA said in a comment letter today.
The Department of Labor yesterday issued a request for information on the fiduciary rule as part of its ongoing review of the rule in response to an executive order by President Trump.
On the eve of the fiduciary rule’s effective date, Republican lawmakers in both the House and Senate introduced legislation today to block the rule, which greatly expands the definition of who counts as a “fiduciary” under the Employee Retirement Income Security Act and the Internal Revenue Code.
Labor Secretary Alexander Acosta today announced that the Department of Labor will not delay the June 9 effective date for the fiduciary rule, which greatly expanded the definition of who counts as a “fiduciary” under the Employee Retirement Income Security Act and the Internal Revenue Code.