Senate Throws a Block on Fiduciary Rule

May 26, 2016 by John Hilton

The U.S. Senate passed a resolution Tuesday evening that would block the Obama administration’s controversial fiduciary rule.

While likely a ceremonial vote (the White House has said Obama will veto the bill), fiduciary rule opponents say it keeps the momentum going against the rule.

“Americans for Annuity Protection is pleased that we now have a Senate bill that mirrors the House bill,” said Kim O’Brien, vice chairman and CEO of AAP. “We are disappointed that President Obama has promised to veto and we will need a full-court press on all representatives to overturn a veto.”

Click HERE to view the full article. INN news articles may require a subscription to view

Originally Posted at InsuranceNewsNet on May 25, 2016 by John Hilton.