The Dept. of Labor’s rule would make it harder for low and middle income families to afford retirement planning and investment advice through its mandates on advisors. Congress needs to reject this new regulation, as investment advisors are already required to avoid conflicts of interest.
Congress needs to allow this rule to proceed to prevent unscrupulous financial advisors from exploiting their clients for their own benefit. President Obama has already threatened to veto this effort to block the rule, so unless Congress thinks they can override a veto they shouldn’t bother.