ICBA filed a lawsuit on behalf of community banks against Equifax Inc. for its breach of 145.5 million consumer records and 209,000 payment cards
Labor Department Extends Fiduciary Rule Deadline
November 29, 2017 / By ICBA
ICBA filed a lawsuit on behalf of community banks against Equifax Inc. for its breach of 145.5 million consumer records and 209,000 payment cards
The Labor Department extended the compliance deadline for its fiduciary rule to July 1, 2019. The 18-month extension was approved as the department reviews the rule, which was approved during the previous administration.
In a comment letter filed earlier this year, ICBA told the DOL that the final fiduciary rule harms investors because it reduces Americans’ access to certain retirement savings offerings. Therefore, the rule’s implementation should be delayed if it is not rescinded, ICBA wrote.
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