Consumer Groups Attack Annuity Bill in California

January 23, 2024 by Allison Bell

Two California groups that support the U.S. Labor Department’s fiduciary rule effort say officials in their state are rushing an annuity sales rule alternative through the state Legislature.

The Consumer Federation of California and the Life Insurance Consumer Advocacy Center assert in a new joint commentary that they believe that California Insurance Commissioner Ricardo Lara and the California Department of Insurance are supporting SB 263, the California version of a National Association of Insurance Commissioners model bill.

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Originally Posted at Think Advisor on January 19, 2024 by Allison Bell.