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   Nonilex (nonilex@masto.ai)'s status on Monday, 12-Aug-2024 05:38:11 JST Nonilex

   #InsuranceLobbyists block #federal crackdown on costly [good] #retirement advice
   
The #FinancialServicesIndustry has blocked the #Biden admin from requiring #brokers to put #retirees’ needs first — above lucrative #commissions.

To protect older Americans’ #LifeSavings, #POTUS #JoeBiden pledged in Oct to crack down on #financial advisers who recommend #investments just because they pay higher commissions. Then the insurance industry got to work.

   #law
   https://www.washingtonpost.com/business/2024/08/11/insurance-lobbyists-block-fiduciary-rule/