Department of Labor Wins Latest Challenge to Fiduciary Rule

Representing Investors Nationwide

A Texas federal judge on Wednesday upheld the U.S. Department of Labor’s controversial fiduciary rule for retirement advisers — just hours after the agency had asked to stay the case in light of President Trump’s directive to review and possibly rescind the rule.  The Texas case (U.S. Chamber of Commerce, et. al. v. Edward Hugler and United States Dept. of Labor).  The court, ignoring the government's stay motion, issued an 81-page opinion upholding the rule, including its prohibition on class action waivers.  The full decision is available here