Published: January 2018

Save retirement rule, advocacy groups urge lawmakers

Consumer Action joined its allies in the Save Our Retirement coalition in a letter to Congressional leadership objecting to an effort to roll back Department of Labor (DOL) fiduciary protections through a rider on the current spending bill.

Consumer and investor rights groups reacted to Wall Street lobbyists’ efforts to roll back Department of Labor (DOL) fiduciary protections through a rider on the current spending bill. The fiduciary (conflict of interest) rule establishes the common-sense principle that financial professionals who provide retirement investment advice must put their clients’ best interests first. "Every additional day that the rule is not fully implemented and enforced is a day that allows Wall Street firms to drain their clients’ hard-earned savings," say the groups.

Lead Organization

Save Our Retirement

Other Organizations

Alliance for Retired Americans | American Association for Justice | American Federation of State, County and Municipal Employees (AFSCME) | Americans for Financial Reform | Better Markets | The Committee for the Fiduciary Standard | Communication Workers of America (CWA) | Consumer Action | Consumer Federation of America | Democracy for America | Economic Policy Institute Policy Center | Garrett Planning Network | International Assoc. of Machinists & Aerospace Workers | Main Street Alliance | NAACP | National Association of Consumer Advocates | National Consumers League | National Employment Law Project | National Organization for Women | Pension Rights Center | Public Citizen | US PIRG | Woodstock Institute

Download PDF

Save retirement rule, advocacy groups urge lawmakers   (2018-Fiduciary-Rider.pdf)