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Wagner Supports Financial Industry Lawsuit to Kill Fiduciary Rule

Statement

Date: June 6, 2016
Location: Washington, DC
Issues: Business and Consumers

Today, Congresswoman Ann Wagner (R-MO-02) released the following statement after five national financial industry associations filed a lawsuit to challenge the Department of Labor's fiduciary rule:

"While I regret that the industry has resorted to litigation to reverse the ill-advised fiduciary rule, I am proud these associations are standing with Americans, unlike President Obama who remains loyal to big government special interests in Washington. Today's lawsuit is a testament to the extreme consequences this rule will have on low- and middle-income families looking to save for retirement.

"I am proud that earlier this week Congress sent a bipartisan bill to the President's desk that would repeal the fiduciary rule. Unfortunately, I anticipate he will opt for his veto stamp over American families who deserve to choose how they invest in their future. The Department's fiduciary rule is simply Obamacare for retirement savings, limiting choices and access to sound investment advice."


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