WASHINGTON, Nov. 16, 2016 /PRNewswire/ -- Members of the SaveOurRetirement Steering Group – AFL-CIO, AFSCME, Americans for Financial Reform, Better Markets, Consumer Federation of America and the Pension Rights Center – issued the following statement in response to reports that a Trump Administration may be considering repealing or undermining the Department of Labor (DoL} fiduciary rule:
"President-elect Trump campaigned on the promise to make government work for hard-working Americans, not special interests. One key test of his commitment will be what position he takes on the Department of Labor's fiduciary rule. The election outcome did not change the fact that Americans deserve and need retirement investment advice that is in their best interest—not advice that is compromised by their advisor's conflict of interest.
The fiduciary rule, promulgated this year, will at long last provide this protection. It is a classic example of making government work for average Americans. Mr. Trump should make good on his election talk by supporting the rule—and choosing regular Americans over Wall Street."