DOL Overstepped Authority in Fiduciary Rule, U.S. Chamber Tells Judge

DOL Overstepped Authority in Fiduciary Rule, U.S. Chamber Tells Judge

Melanie Waddell

The U.S. Department of Labor, in finalizing its fiduciary rule, "has sought to transform the financial services and insurance industries, stepping far beyond its authority" under the Employee Retirement Income Security Act and the IRS code that governs individual retirement accounts, the U.S. Chamber of Commerce said in its latest court papers in a case in Texas.

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