Republican lawmakers are asking the Department of Labor to abandon a proposal to expand retirement advisors’ fiduciary duties, a signal of a brewing fight over what has become a deeply partisan issue.
Sen. Bill Cassidy (La.) and Rep. Virginia Foxx (Va.) serve in leadership positions on the Senate and House committees that oversee the Department of Labor. They argue that another effort to redefine what it means to be a fiduciary under the Employee Retirement Income Security Act would curtail the availability of investment advice,…
