Polis Statement on Department of Labor Conflict of Interest Rule

Press Release

Today, Representative Jared Polis (CO-02), the Ranking Member of the House Health, Employment, Labor, and Pensions Subcommittee, issued the following statement after President Obama directed the Department of Labor to move forward with a proposed rulemaking to protect families from bad retirement advice by requiring retirement advisers to abide by a "fiduciary" standard:

"As our economy and the middle class continue to recover after the devastating effects of the Great Recession, families are fighting to grow and re-grow their nest eggs and build retirement security. It is critical for families to have affordable access to honest, straightforward financial advice as they make important saving and investment decisions. I look forward to carefully reviewing the Department of Labor's proposed rule regarding retirement savings to ensure that it will offer middle-class families reliable and truthful information, without the unintended consequence of draining their savings to pay for advice."

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