Pelosi Statement on Court Ruling on the Fiduciary Rule
Contact: Ashley Etienne/Henry Connelly, 202-226-7616
Washington, D.C. – Democratic Leader Nancy Pelosi issued the following statement in response to the 5th U.S. Circuit Court of Appeals ruling overturning the Obama-era Department of Labor’s fiduciary rule:
“Today’s court ruling strikes a stunning blow to millions of Americans saving for the dignity of a good retirement. Allowing unscrupulous financial advisors to once again put their own financial interests ahead of hard-working Americans saving for retirement will result in billions of lost savings.
“This decision hands big special interests their latest massive handout at the expense of working Americans. Republicans in Congress have given Wall Street every benefit and break they can think of with their GOP Tax Scam and disastrous votes to roll back key Dodd-Frank consumer financial protections. At every opportunity, Republicans have undermined the financial strength of American families and put big corporations above the economic security of everyone else.
“While Republicans abandon seniors and workers, Democrats will fight with all of our strength to uphold the retirement security of the American people against Republicans’ relentless Wall Street First agenda.”
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