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Brady Applauds 5th Circuit for Rejecting Fiduciary Rule

March 16, 2018

Washington, D.C. – Today, House Ways and Means Committee Chairman Kevin Brady (R-TX) released the following statement regarding the decision by the Fifth Circuit Court of Appeals to vacate the Fiduciary Rule regulation issued by the Department of Labor during the Obama Administration:

This ruling is a win for American families. Americans should be able to plan for their futures without Washington interference, and this regulation would have made it more difficult for individuals and families to get affordable investment advice with respect to their retirement savings. The court’s decision to overturn this Obama rule cited overreach with regard to IRAs – a point highlighted in a Ways and Means Committee hearing on this issue. Yesterday’s ruling vacating this regulation is an important step forward.”