DOL Fiduciary Rule Halted by Texas Court
July 29, 2024 by Melanie Waddell
The U.S. District Court for the Eastern District of Texas Tyler Division has granted the request of the Federation of Americans for Consumer Choice and several independent insurance agents to delay the implementation of the Labor Department’s new fiduciary rule.
FACC and the agents filed for a preliminary injunction in late May in the federal court, seeking to force Labor to delay implementation the rule.
Wink’s Moore on the Market:
The U.S. Department of Labor’s fiduciary rule has been stayed.
This means the effective date of the rule has been delayed. -sjm