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Monday, April 25, 2016

House to Take Up Bill Block Fiduciary Rule

The House Education and Workforce Committee last Thursday voted by a 22-14 margin to advance a bill to block the recently finalized fiduciary rule, which defines who counts as a fiduciary under the Employee Retirement Income Security Act and Internal Revenue Code. The bill was introduced by Rep. Phil Roe (R-Tenn.) and is expected to be considered by the full House this week.

Meanwhile, the House Financial Services Committee on Wednesday will hold a hearing on making development banks more accountable.