Personal Finance
John Oliver vs. Congress: Which One Do You Trust With Your Retirement?
Advocates of the ‘fiduciary rule’ say it would save investors $17 billion a year. House Republicans call it ‘Obamacare for financial planning.’
John Oliver.
Photographer: Frederick M. Brown/Getty ImagesThis article is for subscribers only.
Congress is trying once again to overturn a U.S. Department of Labor rule that tightens the regulations on financial advisers, as the U.S. House of Representatives prepares to vote Wednesday on the red hot "fiduciary rule."
In one corner is House Speaker Paul Ryan. “Bureaucrats in Washington, D.C., have no business getting between you and your financial planner,” the Wisconsin Republican said in April, the last time the House took up the rule, which Ryan and other Republicans call “Obamacare for financial planning.”