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Murray Slams Trump Administration for Delaying Vital Protections for Workers, Retirees

Statement

Date: March 1, 2017
Location: Washington, DC
Issues: Senior Citizens Business and Consumers Finance and Banking

Senator Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, issued the following statement on the Department of Labor's delay of the conflicts of interest rule:

"This misguided delay is yet another clear signal from the Trump Administration that they intend to stand with Wall Street rather than working families nationwide who are worried about when, and if, they'll be able to retire," said Senator Murray. "I know President Trump and many Republicans don't think that the government should be in the business of protecting families from financial industry greed, but I, for one, will fight back tooth and nail against this attempt to strip workers and seniors of these vital protections."

The conflict of interest rule went into effect in June of last year to help workers and families get unbiased information when it comes to their retirement investments. It is estimated that conflicts of interest in retirement advice cost families $17 billion a year.


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