04.05.17

Murray Statement on Trump Administration’s Delay of Conflict of Interest Rule

 

(Washington, DC) – Senator Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, today issued the following statement on the Department of Labor’s delay of the conflict of interest rule:

 

“I am deeply disappointed the Trump Administration has decided to double down on their efforts to interfere with vital protections that ensure financial advisers put their clients’ best interests ahead of their own,” said Senator Murray. “I would also note that the pace in which this delay was announced is alarming, given the significant number of comments that were submitted in support of the rule. With this delay, President Trump has sent another clear signal that he has no intention of fulfilling his campaign promises to put workers and retirees first.”

 

The conflict of interest rule went into effect in June of last year to help workers and families get unbiased information when it comes to their retirement investments. It is estimated that conflicts of interest in retirement advice cost families $17 billion a year.

 

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