Well, Mr. and Mrs. Red State America, how are you feeling now about the new administration? The Dodd-Frank rule was flawed but at least offered some protection against unrestrained financial excesses. This will be great for the Average Joe! Yeah, right!
From the site:
President Trump plans to order a rollback Friday of regulations governing the financial services industry and Wall Street under the Dodd-Frank law and beyond, a White House source confirmed.
Gary Cohn, White House Economic Council director, told the Wall Street Journal in an interview published last night that the administration would also move against a regulation designed to force retirement advisers to work in the best interest of their clients. That “fiduciary rule” is set to take effect in April. Promulgated by the Department of Labor, it’s meant to eliminate conflicts-of-interest among professionals dealing with people enrolled in qualified retirement plans and IRAs.
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