Removing Barriers Blog

House Committees Mark Up Legislation To Change Scope of DOL Fiduciary Rule
Posted February 03, 2016 by CUNA Advocacy

This week the House Education and Workforce Committee approved two bills which would impact the Department of Labor fiduciary rule. H.R. 4293, The Affordable Retirement Advice Protection Act and H.R. 4294, The Strengthening Access To Valuable Education And Retirement Support (Or “Savers”) Act of 2015 passed out of the education committee.

The House Committee on Ways and Means also approved the Savers Act. Now both bills will go the House floor for a vote.

We have been actively supporting these bills, and have weighed in with Congress, the NCUA, and the DOL about concerns with the DOL’s fiduciary rules. We will be closely following the progress of these bills on the House floor. We also expect that the DOL could be releasing the final rule within the next 90 days.